Design Software Leader Autodesk Beats Earnings Goals, But Outlook Lags

Autodesk (ADSK), a maker of computer-aided design software and workflow tools, late Thursday reported fiscal first-quarter results that beat analyst estimates. But its earnings guidance for the current quarter and full year were below views. Still, ADSK stock rose in extended trading.


The San Rafael, Calif.-based company earned an adjusted $1.03 a share on sales of $989 million for the quarter ended April 30. Analysts expected Autodesk earnings of 94 cents a share on sales of $965 million. On a year-over-year basis, Autodesk earnings rose 21% while sales climbed 12%.

For the current quarter, Autodesk expects to earn an adjusted $1.11 a share on sales of $1.05 billion. That’s based on the midpoint of its outlook. Wall Street had predicted earnings of $1.13 a share on sales of $1.03 billion for the fiscal second quarter. In the year-earlier period, Autodesk earnings were 98 cents a share on sales of $913 million.

For the full fiscal 2022, Autodesk forecast adjusted earnings of $4.82 a share on sales of $4.36 billion, based on the midpoint of its outlook. Analysts were looking for earnings of $4.94 on sales of $4.31 billion.

Three months ago, Autodesk predicted full-year earnings of $4.93 a share on sales of $4.3 billion. In fiscal 2021, the company earned an adjusted $4.05 a share, up 45%, on sales of $3.79 billion, up 16%.

ADSK Stock Rises In Late Trades

In after-hours trading on the stock market today, ADSK stock climbed 1.3%, near 290.50. During the regular session Thursday, ADSK stock slid 2% to 286.67.

“An acceleration in new business, solid execution, and a resilient subscription business model delivered a strong start to the new fiscal year,” Chief Executive Andrew Anagnost said in a news release.

ADSK stock has been consolidating for the past 20 weeks at a buy point of 321.23, according to IBD MarketSmith charts.

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


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