Autodesk Earnings: Here’s Why the Stock is Falling Now
Autodesk, Inc. (NASDAQ:ADSK) delivered a profit and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 4.10%.
Autodesk, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 10.64% to $0.42 in the quarter versus EPS of $0.47 in the year-earlier quarter.
Revenue: Decreased 3.16% to $570 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Autodesk, Inc. reported adjusted EPS income of $0.42 per share. By that measure, the company missed the mean analyst estimate of $0.45. It missed the average revenue estimate of $583.4 million.
Quoting Management: “A mixed global economy weighed heavily on our first quarter results,” said Carl Bass, Autodesk president and CEO. “There were positive areas in the quarter but overall, a weak April led to a disappointing finish to the quarter. While the global macroeconomic conditions are uneven, we remain focused on revenue growth by delivering the best design solutions to our customers.”
Key Stats (on next page)…