Autodesk, Inc. Stock Fell After Hours on Weak Q2 Earnings Outlook

Autodesk, Inc. (NASDAQ:ADSK) reported its latest quarterly earnings results after the bell Thursday, which came in ahead of analysts’ expectations but its outlook missed the mark.

Autodesk, Inc.The multinational software company said that for its first quarter of fiscal 2018, it brought in a loss of $82.4 million, or 38 cents per share. In the first quarter of fiscal 2017, it announced a wider loss of $129.6 million, or 59 cents per share.

Autodesk also announced adjusted earnings of 6 cents per share for the period, which was better than the Wall Street consensus estimate of 3 cents per share, according to data compiled by FactSet. The company also posted revenue of $559.9 million during the period.

The figure was an improvement over the software provider’s revenue of $458.7 million from the year-ago period. Wall Street was projecting Autodesk to bring in sales of $558.5 million for the period, according to data compiled by FactSet.

For its second quarter of the year, the company predicts adjusted earnings in the range of 13 cents to 16 cents per share and revenue of $585 million to $605 million, well below analysts’ expectations. Wall Street calls for adjusted earnings of 18 cents per share on revenue of $598.5 million, per FactSet.

Autodesk also projects adjusted earnings in the range of 77 cents to 95 cents per share for the year, below the 90 cents per share that analysts are expecting. It sees revenue in the range of $2.56 billion to $2.66 billion, ahead of the $2.5 billion that analysts forecast.

ADSK stock fell about 4.1% after the bell Thursday, plus it fell about 0.3% during regular trading hours Thursday.


Article printed from InvestorPlace Media, https://investorplace.com/2018/05/autodesk-inc-adsk-2/.

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