Cadence rises after raising annual revenue forecast

Shares of chip design software provider Cadence Design Systems CDNS.O up 8.2% to $361.12 after the bell

CDNS raises FY2025 revenue forecast to range from $5.21 billion to $5.27 billion, from earlier projection between $5.15 billion to $5.23 billion

Sees annual adj. EPS in the range of $6.85 to $6.95 vs earlier forecast of $6.73 to $6.83 apeice

Reports Q2 revenue of $1.28 billion vs estimate of $1.25 billion, according to data compiled by LSEG

In separate news, CDNS agreed to plead guilty to resolve charges that it unlawfully exported semiconductor design tools to a Chinese military university

Company to pay about $140 million in criminal and civil penalties and forfeiture, Department of Justice says

CDNS had risen 11.1% YTD