A very strong beat across the board

EN 

Key Logic 

Cadence Design Systems (Cadence) announced strong Q2 2025 results, with both Non-GAAP revenue and diluted earnings per share (EPS) exceeding market consensus and the company's own guidance. According to analyses from investment banks such as Morgan Stanley, Goldman Sachs, and BofA, this robust performance effectively eased market concerns regarding a slowdown in EDA growth.

Management emphasized during the earnings call that the core driver of the performance was the continued broad market demand for its AI-driven product portfolio. Customer R&D investments in advanced design and system innovation remained strong amidst the AI Supercycle, particularly demonstrating strong leadership in the emerging Physical AI and core Agentic AI domains.

All three of the company's business segments (Core EDA, Semiconductor IP, and System Design & Analysis) achieved broad and robust growth. This successfully offset the negative impact of a temporary slowdown in revenue recognition from China due to export restrictions, directly addressing and surpassing market concerns about its China business. Based on this strong performance and positive outlook, analysts generally maintained "Buy" ratings and raised their price targets. ( For full content please see:)

CN 

Key Logic 

Cadence公布的2Q25业绩表现出色，Non-GAAP营收和每股收益均超出市场共识和公司自身指引。根据Morgan Stanley、Goldman Sachs和BofA等投行的分析，这一强劲表现有效缓解了市场对EDA增长放缓的担忧。

公司管理层在电话会议中强调，业绩的核心驱动力来自其以AI驱动的产品组合持续获得广泛的市场需求，客户在AI超级周期（AI Supercycle）下对先进设计和系统创新的研发投入保持强劲，特别是在新兴的Physical AI和核心的Agentic AI领域展现出强大的领导力。

公司的三大业务线（核心EDA、Semiconductor IP、系统设计与分析）均实现了广泛且强劲的增长，这成功抵消了因出口限制导致中国区收入确认暂时放缓的负面影响，直接回应并超越了市场对中国业务的担忧。基于此强劲表现和积极展望，分析师普遍维持“买入”评级并上调了目标价。( 完整内容请见:)