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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.




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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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