This computer software stock is trading up in after-hours

Shares of Cadence Design Systems Inc (NASDAQ: CDNS) climbed more than 5.0% in extended trading after the computer software company reported better-than-expected results for its fiscal first quarter and raised its full-year guidance.

What Cadence Q1 results tell us

• Net income printed at $235 million versus the year-ago figure of $187 million.
• Per-share earnings came in at 85 cents, an increase from last year’s 67 cents.
• Revenue jumped 22.5% YoY to $902 million, as per the earnings press release.
• FactSet consensus was for 73 cents of EPS on $857 million in revenue.
• Operating margin climbed from 28% to 35% in the recent fiscal quarter.

Future outlook and CEO’s remarks

For the full financial year, Cadence now forecasts its revenue to fall between $3.40 billion and $3.44 billion. It predicts up to $3.97 of per-share earnings this year. In the earnings press release, CEO Anirudh Devgan said:

In Q2, the American multinational expects to generate 95 cents to 99 cents of adjusted EPS on revenue in the range of $825 million to $845 million – both ahead of analysts’ estimates.