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Autodesk shares down on 4th-qtr forecast
Autodesk Inc (ADSK.O: Quote, Profile, Research) on Thursday posted a 47 percent jump in third-quarter profits but forecast lower-than-expected fourth-quarter earnings, sending its shares lower in after-hours trade.
Net income increased to $85 million, or 35 cents per share, from $58 million, or 24 cents per share, a year earlier.
It forecast fourth-quarter earnings, excluding items, to range from 52 cents to 54 cents, while analysts on average had forecast fourth-quarter earnings, before items, of 54 cents per share on revenues of $581.8 million, according to Reuters Estimates.
Shares of Autodesk fell 5.2 percent to $45 in after-hours trade, after closing down 7 cents to $47.46 a share on Nasdaq.
Autodesk, known for its AutoCAD design software, said revenues rose 18 percent to $538 million.
Autodesk Inc (ADSK.O: Quote, Profile, Research) on Thursday posted a 47 percent jump in third-quarter profits but forecast lower-than-expected fourth-quarter earnings, sending its shares lower in after-hours trade.
Net income increased to $85 million, or 35 cents per share, from $58 million, or 24 cents per share, a year earlier.
It forecast fourth-quarter earnings, excluding items, to range from 52 cents to 54 cents, while analysts on average had forecast fourth-quarter earnings, before items, of 54 cents per share on revenues of $581.8 million, according to Reuters Estimates.
Shares of Autodesk fell 5.2 percent to $45 in after-hours trade, after closing down 7 cents to $47.46 a share on Nasdaq.
Autodesk, known for its AutoCAD design software, said revenues rose 18 percent to $538 million.
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