SAN FRANCISCO (AP) — SAN FRANCISCO (AP) — Autodesk Inc. (ADSK) on Thursday reported fiscal first-quarter earnings of $152 million.
The San Francisco-based company said it had profit of 70 cents per share. Earnings, adjusted for stock option expense and restructuring costs, were $2.29 per share.
The results exceeded Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $2.14 per share.
The design software company posted revenue of $1.63 billion in the period, also topping Street forecasts. Eight analysts surveyed by Zacks expected $1.61 billion.
For the current quarter ending in July, Autodesk expects its per-share earnings to range from $2.44 to $2.48.
The company said it expects revenue in the range of $1.72 billion to $1.73 billion for the fiscal second quarter.
Autodesk expects full-year earnings in the range of $9.50 to $9.73 per share, with revenue ranging from $6.93 billion to $7 billion.
Autodesk shares have dropped slightly since the beginning of the year, while the S&P’s 500 index has stayed nearly flat. In the final minutes of trading on Thursday, shares hit $295.15, a rise of 34% 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
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