Autodesk Profit Falls, Yet Tops Estimate; Provides Weak Q4 Earnings Outlook

(RTTNews) - Design software maker Autodesk Inc (ADSK) Thursday reported third-quarter net earnings of $10.7 million or $0.05 per share compared with $57.6 million or $0.25 per share last year.

Excluding items, adjusted earnings for the quarter were $0.25 per share compared with $0.41 per share a year ago.

Revenues for the quarter were $618 million compared with $555.2 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.22 per share on revenues of $601.9 million for the quarter. Analysts' estimates typically exclude special items.

For the fourth quarter, the company expects adjusted earnings of $0.22 to $0.25 per share on revenues of $640 million to $655 million. Analysts expect earnings of $0.30 per share on revenues of $635.5 million.

For the full year 2015, Autodesk now expects revenue growth of 9 to 10 percent, up from prior guidance of 7 to 9 percent growth; and adjusted earnings of $1.15 to $1.18 per share.

Analysts expect revenue growth of 8.5 percent and earnings of $1.20 per share for the year.