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Cadence Design Systems Lifts FY21 Outlook

Cadence Design Systems (CDNS) Monday lifted its outlook for the full year 2021. The company now expects earnings of $3.24 to $3.28 per share on revenues of $2.96 billion to $2.98 billion.

Analysts polled by Thomson Reuters currently estimate earnings of $3.17 per share on revenues of $2.95 billion for the quarter.

Previously, the company expected earnings of $3.14 to $3.20 per share and revenues of $2.925 billion to $2.965 billion.

"We exceeded our guidance on all key metrics for the third quarter and as a result, I am pleased to raise our outlook for the year," said John Wall, senior vice president and chief financial officer.

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