Cadence Design Systems (CDNS) Revenue — Quarter Ended Mar 31, 2024
Revenue for the quarter declined compared to both the immediately preceding quarter and the same quarter one year earlier. This marks a reversal from the growth seen in the prior three quarters.
Key takeaway
Quarter ended Mar 31, 2024 · FY2024 Q1
Revenue for the quarter declined compared to both the immediately preceding quarter and the same quarter one year earlier. This marks a reversal from the growth seen in the prior three quarters.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$1B
Revenue reported for this quarter.
Quarter-over-quarter
-5.6%
Change from the immediately preceding quarter.
Year-over-year
-1.2%
Change from the comparable year-ago quarter.
Trailing four quarters
$4.1B
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 |
|---|---|---|
| Jun 30, 2023 | $976.6M | +13.9% |
| Sep 30, 2023 | $1B | +13.4% |
| Dec 31, 2023 | $1.1B | +18.8% |
| Mar 31, 2024 | $1B | -1.2% |
Revenue performance
Reported revenue decreased from the prior quarter, reflecting a lower top line for the period.
Quarterly comparison
Compared with the immediately preceding quarter, revenue was lower; it also fell relative to the same quarter one year earlier.
What to watch
The decline follows three consecutive quarters of year-over-year growth, warranting attention to future revenue trends.