: Autodesk stock slumps as outlook overshadows earnings beat
Autodesk Inc. ADSK shares declined in the extended session Thursday after the enterprise software company’s outlook overshadowed its earnings beat. Autodesk shares fell as much as 6% after hours, following a 2.1% rise in the regular session to close at $221.16. Autodesk forecast earnings of $1.50 to $1.56 a share on revenue of $1.26 billion to $1.28 billion for the first quarter, and $6.98 to $7.32 a share on billings of $5.03 billion to $5.18 billion for the year. Analysts had estimated $1.64 a share on revenue of $1.27 billion for the first quarter, and $7.38 a share on billings of $5.62 billion for the year. The company reported fourth-quarter net income of $293 million, or $1.35 a share, compared with $89 million, or 40 cents a share, in the year-ago period. Adjusted earnings, which exclude stock-based compensation expenses and other items, were $1.86 a share, compared with $1.50 a share in the year-ago period. Revenue rose to $1.32 billion from $1.21 billion in the year-ago quarter. Analysts surveyed by FactSet had forecast $1.81 a share on revenue of $1.31 billion.
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