Let’s dig into the relative performance of ANSYS (NASDAQ:ANSS) and its peers as we unravel the now-completed Q3 design software earnings season.

The demand for rich, interactive 2D, 3D, VR and AR experiences is growing, and while the ubiquitous metaverse might still be more of a buzzword than a real thing, what is real is the demand for the tools to create these experiences, whether they are games, 3D tours or interactive movies.

The 6 design software stocks we track reported a strong Q3. As a group, revenues beat analysts’ consensus estimates by 4.4% while next quarter’s revenue guidance was 2.9% below.

In light of this news, share prices of the companies have held steady. On average, they are relatively unchanged since the latest earnings results.

Best Q3: ANSYS (NASDAQ:ANSS)

Used to help design the Mars Rover, Ansys (NASDAQ:ANSS) offers a software-as-a-service platform that enables simulation for engineering and design.

ANSYS reported revenues of $601.9 million, up 31.2% year on year. This print exceeded analysts’ expectations by 14.9%. Overall, it was a stunning quarter for the company with an impressive beat of analysts’ EBITDA and average contract value estimates.

ANSYS pulled off the biggest analyst estimates beat and fastest revenue growth of the whole group. Unsurprisingly, the stock is up 3.9% since reporting and currently trades at $346.20.

Is now the time to buy ANSYS? Access our full analysis of the earnings results here, it’s free.

Cadence (NASDAQ:CDNS)

With the name chosen to reflect the idea of a repeating pattern or rhythm in electronic design, Cadence Design Systems (NASDAQ:CDNS) offers a software-as-a-service platform for semiconductor engineering and design.

Cadence reported revenues of $1.22 billion, up 18.8% year on year, outperforming analysts’ expectations by 2.9%. The business had a very strong quarter with an impressive beat of analysts’ billings and EBITDA estimates.

The market seems happy with the results as the stock is up 17.5% since reporting. It currently trades at $297.

Is now the time to buy Cadence? Access our full analysis of the earnings results here, it’s free.

Weakest Q3: Adobe (NASDAQ:ADBE)

One of the most well-known Silicon Valley software companies around, Adobe (NASDAQ:ADBE) is a leading provider of software as service in the digital design and document management space.

Adobe reported revenues of $5.41 billion, up 10.6% year on year, in line with analysts’ expectations. It was a mixed quarter as it posted underwhelming revenue guidance for the next quarter.

Adobe delivered the weakest performance against analyst estimates in the group. As expected, the stock is down 10.6% since the results and currently trades at $525.