Autodesk shares fall on earnings outlook
Autodesk Inc. shares declined in the extended session Thursday after the enterprise software company's quarterly results topped Wall Street estimates but its quarterly earnings outlook fell short of the consensus. Autodesk shares fell 4.3% after hours, following a 0.3% decline to close at $138.92 in the regular session. Autodesk estimated adjusted earnings of 13 cents to 16 cents a share on revenue of $585 million to $605 million for the fiscal second quarter, and 77 cents to 95 cents a share on revenue of $2.56 billion to $2.66 billion for the year. Analysts surveyed by FactSet expect earnings of 18 cents a share on revenue of $598.5 million for the second quarter, and 90 cents a share on revenue of $2.5 billion for the year. The company reported a first-quarter loss of $82.4 million, or 38 cents a share, compared with a loss of $129.6 million, or 59 cents a share, in the year-ago period. Adjusted earnings were 6 cents a share. Revenue rose to $559.9 million from $485.7 million in the year-ago period. Analysts had estimated 3 cents a share on revenue of $558.5 million.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.