Autodesk’s Q3 Profit Beats Estimate; Shares Rise in After-Hours Trading (ADSK)

Autodesk Inc. (NASDAQ: ADSK), the San Rafael, California-based design software and services company, today reported its third-quarter financial results. The company’s third-quarter earnings beat Wall Street estimates on the back of robust demand across all its geographies.

For the third quarter, Autodesk reported earnings of $72.8 million, or $0.32 per share, up from $53.6 million, or $0.23 per share reported for the same period in the previous year. The company’s adjusted earnings for the quarter were $0.44 per share. Analysts were expecting the maker of AutoCAD design software to report adjusted earnings of $0.41 per share.

Autodesk’s revenue for the third quarter rose 15% on a year-over-year basis to $549 million, driven by a 28% increase in revenue from Asia-Pacific region. Analysts were expecting Autodesk to report revenue of $544.1 million for the third quarter.

Autodesk also gave guidance for the current quarter. The company expects fourth-quarter earnings to come in between $0.42 per share and $0.45 per share. Fourth-quarter revenue is expected to come in between $575 million and $590 million. Analysts expect the company to report fourth-quarter earnings of $0.44 per share and revenue of $583.1 million.

Carl Bass, President and CEO of Autodesk, said that the company’s business grew 15% in the third quarter as more and more people turned to it to help solve their most pressing design and engineering challenges. Bass further said that the company’s strong revenue gains coupled with continued cost controls resulted in a healthy improvement in profitability and cash flow from operations.

Autodesk shares have risen in after-hours trading following the release of third-quarter financial results. At last check, Autodesk shares were up 1.23% to $34.46 in after-hours trading today. The stock had closed 1.28% higher at $34.04 in regular trading.

Post Written By: Ed Liston Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.