Autodesk Earnings: Here’s Why Investors are Not Happy Now
Autodesk, Inc. (NASDAQ:ADSK) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 5%.
Autodesk, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 6.25% to $0.45 in the quarter versus EPS of $0.48 in the year-earlier quarter.
Revenue: Decreased 1.23% to $561.7 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Autodesk, Inc. reported adjusted EPS income of $0.45 per share. By that measure, the company beat the mean analyst estimate of $0.42. It beat the average revenue estimate of $560.56 million.
Quoting Management: “Our second quarter was marked by strength in our Architecture, Engineering and Construction (NYSE:AEC) business segment and continued growth in suites,” said Carl Bass, Autodesk president and CEO. “Growth in these vital areas was offset by mixed contributions from other parts of the business. On the product side, we strengthened and expanded our leading product portfolio with new desktop, cloud and mobile offerings.”
Key Stats (on next page)…