Autodesk earnings (NASDAQ:ADSK) were better than what analysts were calling for during the company’s most recent fiscal quarter, sending ADSK stock soaring late in the day Tuesday.
The San Rafael, Calif.-based multinational software maker said that for its third quarter of fiscal 2018, it posted a loss once again, but the figure was a considerable improvement over the year-ago quarter. Here’s what you should know know about Autodesk’s period:
- The company posted a loss of $23.7 million, or 11 cents per share.
- The figure was a fraction of the company’s loss from its year-ago quarter, when it posted losses of $119.8 million, or 55 cents per share.
- On an adjusted basis, Autodesk brought in earnings of 29 cents per share.
- Analysts were calling for adjusted earnings of 27 cents per share, according to data compiled from a FactSet survey.
- The software company also brought in revenue of $660.9 million during the period, topping the $515.3 million it brought in during the year-ago quarter.
- Wall Street was calling for revenue of $640.9 million for the period, according to data compiled by FactSet.
- For its fourth quarter, Autodesk projects adjusted earnings of 40 cents to 44 cents per share, while analysts predict adjusted earnings of 40 cents per share.
- The company sees its revenue in the range of $700 million to $710 million next to Wall Street’s revenue outlook of $689.1 million.
ADSK stock is gaining about 7.5% after the bell following the company’s strong quarterly earnings showing. Shares had declined more than 2.1% during regular trading hours Tuesday in anticipation of the company’s quarterly results.