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Autodesk 3Q Net Jumps 82%; Shares Down As EPS Views Cautious

DOW JONES NEWSWIRES Autodesk Inc.'s (ADSK) fiscal third-quarter profit jumped 82% as revenue rose and margins surged. But shares slumped 4.7% to $34.55 in recent after-hours trading as the company forecast a fourth-quarter profit of 30 cents to 33 cents a share on $500 million to $520 million in revenue. Analysts had forecast 34 cents and $502 million, respectively. The maker of the popular AutoCAD design software used by engineers and architects has seen sales pick up in recent quarters, reversing a previous trend of declines amid the global downturn. Recent architecture billings and other data suggest a positive demand environment for its software licenses this year, according to a Jefferies note this week. For the quarter ended Oct. 31, Autodesk reported a profit of $53.6 million, or 23 cents a share, up from $29.5 million, or 13 cents a share, a year earlier. Excluding items such as stock-based compensation, earnings rose to 32 cents from 26 cents. Revenue jumped 14% to $476.7 million, following last year's 31% plunge. In August, the comany forecast earnings of 28 cents to 33 cents on $450 million to $475 million in revenue. Operating margin surged to 14.5% from 6.3% amid higher revenue and lower stock-based compensation expenses and the absence of restructuring charges in the latest quarter. -By Matt Jarzemsky, Dow Jones Newswires; 212-416-2240; matthew.jarzemsky@dowjones.com

Stock News for Autodesk (ADSK)
DateTimeHeadline
03/27/201517:24:20Statement of Changes in Beneficial Ownership (4)
03/27/201517:22:46Statement of Changes in Beneficial Ownership (4)
03/24/201517:17:53Statement of Changes in Beneficial Ownership (4)
03/24/201517:15:44Statement of Changes in Beneficial Ownership (4)
03/24/201517:13:38Statement of Changes in Beneficial Ownership (4)
03/24/201517:11:50Statement of Changes in Beneficial Ownership (4)
03/24/201517:09:42Statement of Changes in Beneficial Ownership (4)
03/23/201509:00:00AutoCAD 2016 Helps Design Every Detail With Rich Visual Accuracy
03/19/201519:17:49Statement of Changes in Beneficial Ownership (4)
03/18/201516:09:29Annual Report (10-k)
03/17/201518:11:51Statement of Changes in Beneficial Ownership (4)
03/17/201516:05:04Current Report Filing (8-k)
03/17/201508:00:00Autodesk Launches Tinkerplay App to Make 3D Design and 3D Printing...
03/11/201516:28:45Statement of Changes in Beneficial Ownership (4)
03/09/201519:55:45Statement of Changes in Beneficial Ownership (4)
03/09/201519:54:08Statement of Changes in Beneficial Ownership (4)
03/01/201505:02:23Some Companies Are More Wonderful Than Others
02/27/201518:38:09Statement of Changes in Beneficial Ownership (4)
02/27/201501:27:03Autodesk (ADSK) Carl Bass on Q4 2015 Results - Earnings Call...
02/26/201516:02:01Current Report Filing (8-k)

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