Cadence Design Systems (CDNS) late Monday reported stronger-than-expected first-quarter earnings, while the computational software company's revenue rose in line with Wall Street's estimates.

Adjusted per-share earnings rose to $1.57 for the quarter through March 31 from $1.17 a year earlier, compared with the $1.49 consensus estimate on FactSet. Revenue climbed 23% to $1.24 billion, matching the Street's view.

"We haven't seen any change in customers' behavior at this time, as they continue investing in R&D for their next-gen designs," Chief Executive Anirudh Devgan said in a statement.

Product and maintenance revenue increased to $1.11 billion from $913.4 million, while services rose to $131.5 million from $95.7 million.

Cadence projects second-quarter adjusted EPS of $1.55 to $1.61 on revenue between $1.25 billion and $1.27 billion. Analysts expect $1.58 and $1.26 billion, respectively.

Cadence said it now expects full-year adjusted EPS of $6.73 to $6.83, up from the previous projection of $6.65 to $6.75. Revenue is pegged at $5.15 billion to $5.23 billion, compared with $5.14 billion to $5.22 billion previously.

Wall Street is looking for normalized EPS of $6.71 on revenue of $5.19 billion for 2025.