Autodesk
ADSK
Delayed Nasdaq - 08/16 10:00:00 pm
110.49USD
+0.63%

Autodesk : reports 1Q loss

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05/18/2017 | 10:34 pm

SAN RAFAEL, Calif. (AP) _ Autodesk Inc. (ADSK) on Thursday reported a loss of $129.6 million in its fiscal first quarter.

On a per-share basis, the San Rafael, California-based company said it had a loss of 59 cents. Losses, adjusted for one-time gains and costs, were 16 cents per share.

The results surpassed Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for a loss of 22 cents per share.

The design software company posted revenue of $485.7 million in the period, also topping Street forecasts. Seven analysts surveyed by Zacks expected $472.4 million.

For the current quarter ending in August, Autodesk expects its results to range from a loss of 18 cents per share to a loss of 14 cents per share.

The company said it expects revenue in the range of $488 million to $500 million for the fiscal second quarter. Analysts surveyed by Zacks had expected revenue of $489.4 million.

Autodesk expects full-year results to range from a loss of 73 cents per share to a loss of 56 cents per share, with revenue ranging from $2 billion to $2.05 billion.

Autodesk shares have climbed 29 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed almost 6 percent. In the final minutes of trading on Thursday, shares hit $95.83, a rise of 66 percent in the last 12 months.

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

Keywords: Autodesk, Earnings Report

Automated Insights, source Associated Press News

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