Autodesk: Fiscal 2Q Earnings Snapshot

August 27, 2019 GMT

SAN RAFAEL, Calif. (AP) _ Autodesk Inc. (ADSK) on Tuesday reported fiscal second-quarter net income of $40.2 million, after reporting a loss in the same period a year earlier.

The San Rafael, California-based company said it had profit of 18 cents per share. Earnings, adjusted for one-time gains and costs, were 65 cents per share.

The results exceeded Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 61 cents per share.

The design software company posted revenue of $796.8 million in the period, which also beat Street forecasts. Nine analysts surveyed by Zacks expected $786.8 million.


For the current quarter ending in November, Autodesk expects its per-share earnings to range from 70 cents to 74 cents.

The company said it expects revenue in the range of $820 million to $830 million for the fiscal third quarter. Analysts surveyed by Zacks had expected revenue of $836.5 million.

Autodesk expects full-year earnings in the range of $2.69 to $2.81 per share, with revenue ranging from $3.24 billion to $3.27 billion.

Autodesk shares have climbed 17% since the beginning of the year, while the Standard & Poor’s 500 index has increased 15%. In the final minutes of trading on Tuesday, shares hit $150.34, a fall of roughly 3% in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ADSK at https://www.zacks.com/ap/ADSK