Banking

Design Software Firm Autodesk Beats Fourth-Quarter Sales, Earnings Targets

Autodesk (ADSK), a maker of computer-aided design software and workflow tools, late Thursday beat Wall Street’s targets for its fiscal fourth quarter. But ADSK stock fell after the Autodesk earnings report.




X



The San Rafael, Calif.-based company earned an adjusted $1.18 a share on sales of $1.04 billion for the quarter ended Jan. 31. Analysts expected Autodesk earnings of $1.07 a share on sales of $1.01 billion. In the year-earlier period, Autodesk earnings were an adjusted 92 cents a share on sales of $899 million.

In after-hours trading on the stock market today, ADSK stock dropped 2.1%, near 278. During the regular session, ADSK stock fell 5% to 284.03 in an overall down day for the stock market.

Details to follow.

On Wednesday, Autodesk announced a $1 billion deal to buy Innovyze, a Portland, Oregon-based maker of water infrastructure software.

Follow Patrick Seitz on Twitter at @IBD_PSeitz for more stories on consumer technology, software and semiconductor stocks.

YOU MAY ALSO LIKE:

Best Buy Misses Holiday-Quarter Sales Target, Gives Soft Guidance

ViacomCBS Aims To Take On Streaming Video Rivals With Mix Of Services

Is Roku Stock A Buy After Its Fourth-Quarter Earnings Surprise?

Find Winning Stocks With MarketSmith Pattern Recognition & Custom Screens

See Stocks On The List Of Leaders Near A Buy Point



Most Related Links :
dutifulnews Governmental News Finance News

Source link

Back to top button