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 3.74%.
Autodesk, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 15.22% to $0.53 in the quarter versus EPS of $0.46 in the year-earlier quarter.
Revenue: Rose 2.45% to $606.9 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Autodesk, Inc. reported adjusted EPS income of $0.53 per share. By that measure, the company beat the mean analyst estimate of $0.49. It beat the average revenue estimate of $586.16 million.
Quoting Management: “We are pleased with our stronger than expected fourth quarter results,” said Carl Bass, Autodesk president and CEO. “While the global economic picture remains mixed, we ended the year strong, driven by increasing demand for our design and creation suites, record revenue in our AEC and manufacturing business segments, and strong large deal volume.”
Key Stats (on next page)…