Autodesk: Fiscal Q1 Earnings Snapshot

SAN RAFAEL, Calif. (AP) _ Autodesk Inc. (ADSK) on Thursday reported fiscal first-quarter profit of $155.6 million.

On a per-share basis, the San Rafael, California-based company said it had net income of 70 cents. Earnings, adjusted for one-time gains and costs, came to $1.03 per share.

The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 94 cents per share.

The design software company posted revenue of $989.3 million in the period, also exceeding Street forecasts. Seven analysts surveyed by Zacks expected $964.6 million.

For the current quarter ending in August, Autodesk expects its per-share earnings to range from $1.08 to $1.14. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.10.

The company said it expects revenue in the range of $1.05 billion to $1.06 billion for the fiscal second quarter. Analysts surveyed by Zacks had expected revenue of $1.03 billion.

Autodesk expects full-year earnings in the range of $4.67 to $4.97 per share, with revenue ranging from $4.31 billion to $4.39 billion.

Autodesk shares have dropped 6% since the beginning of the year, while the S&P’s 500 index has increased 12%. In the final minutes of trading on Thursday, shares hit $286.67, a climb of 43% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ADSK at https://www.zacks.com/ap/ADSK

The Associated Press