Cadence Design Systems (NASDAQ:) shares rose around 5% after-hours following the company’s reported Q1 results, with EPS of $1.17 coming in above the consensus estimate of $1.02. Revenue was $902 million, compared to the consensus estimate of $857.32 million, driven by broad-based strength across the company’s diverse product portfolio.

Company expects Q2/22 to have EPS in the $0.95-$0.99 range, against the consensus $0.92 and revenue between $825-845million, in contrast to the $823.74million consensus.

The company anticipates that EPS will be in the $3.89 to $3.97 range, as opposed to $3.80 consensus, and revenue of between $3.395 to 3.435 billion, in comparison to $3.36 billion consensus.

Cadence Design Systems shares are down 19% over the past year.

By Davit Kirakosyan