fell late Wednesday after the software company roughly met analyst estimates for the second quarter, but fell short of expectations for third-quarter earnings expectations.
The stock fell 6.8% in the extended session. Shares closed the regular session with a 0.4% gain to $342.27.
For the quarter ended July 31, Autodesk (ticker: ADSK) reported net income of $115.6 million, or 52 cents per share, compared to net income of $98.2 million, or 44 cents per share, in same period a year ago.
Adjusted for, among other things, share-based compensation, earnings were $1.21 per share. Sales rose 16% to $1.06 billion. Analysts had expected adjusted earnings of $1.13 per share on revenue of $1.06 billion.
Autodesk said it expected third-quarter non-GAAP EPS of $1.22 to $1.28 on revenue of $1.11 billion to $1.13 billion; analysts expected adjusted earnings of $1.30 per share on revenue of $1.12 billion.
The company said it now expects full-year non-GAAP earnings of $4.91 to $5.06 per share on revenue of $4.35 billion to $4.39 billion. Analysts had expected full-year non-GAAP earnings of $4.86 per share on revenue of $4.36 billion.
“Our strong start to the year means that we [full-year 2022] revenue and margin guidance and more from our [enterprise business agreement] customers from multi-year prepaid to annual invoices, benefiting both our customers and Autodesk,” said CFO Debbie Clifford.
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