Cadence Design Systems (CDNS) Revenue — Quarter Ended Jun 30, 2023
Revenue for the quarter decreased compared to the immediately preceding quarter but increased compared to the same quarter one year earlier. The sequential decline follows a period of consecutive quarterly growth.
Key takeaway
Quarter ended Jun 30, 2023 · FY2023 Q2
Revenue for the quarter decreased compared to the immediately preceding quarter but increased compared to the same quarter one year earlier. The sequential decline follows a period of consecutive quarterly growth.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$976.6M
Revenue reported for this quarter.
Quarter-over-quarter
-4.4%
Change from the immediately preceding quarter.
Year-over-year
+13.9%
Change from the comparable year-ago quarter.
Trailing four quarters
$3.8B
Sum of the latest four reported quarters.
Quarterly revenue trend
The latest four reported quarters with year-over-year comparisons.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Oct 1, 2022 | $902.6M | +20.2% |
| Dec 31, 2022 | $899.9M | +16.4% |
| Mar 31, 2023 | $1B | +13.3% |
| Jun 30, 2023 | $976.6M | +13.9% |
Revenue performance
Revenue in the reported quarter was lower than the prior quarter, marking a reversal from the upward trend seen in recent periods.
Quarterly comparison
Compared to the immediately preceding quarter, revenue declined. However, compared to the same quarter one year earlier, revenue was higher.
What to watch
The sequential decline after several quarters of growth may be a point to monitor in upcoming filings.