Autodesk, a maker of software for computer-aided design and workflows, late Thursday beat analyst estimates for its fiscal second quarter. It also gave roughly in-line guidance for the current quarter, but raised its full-year outlook. ADSK stock rose in extended trading.
The San Francisco-based company earned an adjusted $2.15 a share on sales of $1.51 billion in the quarter ended July 31. Analysts polled by FactSet had expected Autodesk earnings of $2 a share on sales of $1.48 billion. On a year-over-year basis, Autodesk earnings increased 13% while sales rose 12%.
For the current quarter, Autodesk predicted adjusted earnings of $2.11 a share on sales of $1.56 billion. That's based on the midpoint of its guidance. Analysts had been looking for earnings of $2.12 a share on sales of $1.55 billion in the fiscal third quarter. In the year-earlier period, Autodesk earned an adjusted $2.07 a share on sales of $1.41 billion.
For its full fiscal year ending Jan. 31, Autodesk guided to adjusted earnings of $8.25 a share on sales of $6.11 billion. Those numbers reflect the midpoint of its outlook. Analysts had been modeling earnings of $8.12 a share on sales of $6.05 billion. In its prior fiscal year, Autodesk earned an adjusted $7.60 a share on sales of $5.5 billion.
ADSK Stock Jumps On Earnings News
In after-hours trading on the stock market today, ADSK stock rose more than 6% to 273.99. During the regular session Thursday, Autodesk stock advanced 1.4% to close at 258.23.
"Despite continued macroeconomic and geopolitical challenges, we saw broad-based growth across nearly all our products and regions," Chief Executive Andrew Anagnost said in a statement.
He added, "We're confident that our strategic investments, especially in AI, position us ahead of our peers, and will continue enabling us to deliver more valuable, data-driven, connected tools and services that will support people to design, make, and build anything."
Autodesk Stock Is A Recent Breakout
On Monday, ADSK stock broke out of a cup-with-handle base at a buy point of 256.05, according to IBD MarketSurge. The 5% buy zone extends to 268.85.
ADSK stock ranks first out of 13 stocks in IBD's Computer Software-Design industry group, according to IBD Stock Checkup. It has an IBD Composite Rating of 85 out of 99.
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