Autodesk: Fiscal 2Q Earnings Snapshot
Aug. 23, 2018
SAN RAFAEL, Calif. (AP) _ Autodesk Inc. (ADSK) on Thursday reported a loss of $39.4 million in its fiscal second quarter.
On a per-share basis, the San Rafael, California-based company said it had a loss of 18 cents. Earnings, adjusted for stock option expense and restructuring costs, came to 19 cents per share.
The results exceeded Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of 17 cents per share.
The design software company posted revenue of $611.7 million in the period, also exceeding Street forecasts. Nine analysts surveyed by Zacks expected $601 million.
For the current quarter ending in November, Autodesk expects its per-share earnings to range from 24 cents to 28 cents.
The company said it expects revenue in the range of $635 million to $645 million for the fiscal third quarter. Analysts surveyed by Zacks had expected revenue of $635 million.
Autodesk expects full-year earnings in the range of 87 cents to 95 cents per share.
Autodesk shares have increased 30 percent since the beginning of the year, while the Standard & Poor's 500 index has increased roughly 7 percent. In the final minutes of trading on Thursday, shares hit $136.31, an increase of 23 percent in the last 12 months.