Autodesk Draws Narrow Third-Quarter Beat, And Shares Tumble

Autodesk (ADSK), a maker of design software and tools for project workflow, late Tuesday edged by analyst estimates for its fiscal third quarter. ADSK stock fell in extended trading.


The San Rafael, Calif.-based company earned an adjusted $1.33 a share on sales of $1.13 billion in the quarter ended Oct. 31. Wall Street had expected Autodesk earnings of $1.26 a share on sales of $1.12 billion, according to FactSet. In the year-earlier quarter, Autodesk earned $1.04 a share on sales of $952 million.

In after-hours trading on the stock market today, ADSK stock dropped 12%, near 267.60. During the regular session Tuesday, ADSK stock sank 2.1% to 304.

Earnings report details to follow.

Follow Patrick Seitz on Twitter at @IBD_PSeitz for more stories on consumer technology, software and semiconductor stocks.


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