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Autodesk beats Wall Street expectations in 2Q
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SAN RAFAEL, CALIF. (AP) - Engineering software maker Autodesk Inc. on Thursday reported a profit surge in its latest quarter, as the economic recovery helped sales across the world.
Net income in the fiscal second quarter, which ended July 31, was $59.9 million, or 25 cents per share, compared with $10.5 million, or 5 cents per share, in the same period a year earlier.
Excluding stock-based compensation expenses, amortization charges and restructuring costs, adjusted income was 36 cents per share in the latest quarter. That beat the forecast of analysts polled by Thomson Reuters, who expected adjusted earnings of 27 cents per share.
Revenue grew 14 percent to $472.8 million from $414.9 million. Analysts were expecting revenue of $459 million.
For the current quarter, Autodesk said it expects to post adjusted net income of 28 cents to 33 cents per share and revenue between $450 million and $475 million. Analysts have been predicting adjusted earnings of 30 cents per share on $464 million in revenue.
The San Rafael-based company's shares rose $1, or 3.6 percent, to $28.45 in after-hours trading, after falling 47 cents to end regular trading at $27.45.
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