Autodesk Inc (NASDAQ:ADSK) is trading lower Thursday after the company announced its second-quarter 2022 financial results and issued disappointing guidance.
Autodesk reported adjusted quarterly earnings of $1.21 per share, which beat the estimate of $1.13 per share. The company reported quarterly revenue of $1.06 billion, narrowly exceeding its estimate of $1.05 billion.
Autodesk expects fiscal year 2022 earnings in the third quarter to be between $1.22 per share and $1.28 per share, compared to its estimate of $1.26 per share.
The company expects revenue for fiscal year 2022 to be between $1.11 billion and $1.125 billion in the third quarter, compared to its estimate of $1.11 billion.
“Continued and targeted innovation to enable digital transformation in the industries we serve is transforming our relationship with our customers from software vendor to strategic partner,” said Andrew Anagnost, president and CEO of Autodesk. “And that allows us to create greater value through end-to-end, cloud-based solutions that connect data and workflows and enable the evolution of the business model.”
Autodesk is an application software company that provides design, modeling and rendering solutions.
ADSK Price Promotion: Autodesk has traded as high as $344.39 and as low as $215.82 in a 52-week period.
At its last check on Thursday, the stock fell 8.8% at $312.15.
photo by Creative Tools from flickr.
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