Autodesk missed earnings and revenue estimates for its fiscal first-quarter.
The software maker reported earnings of 45 cents per share for the quarter, falling behind analysts’ expectations of 47 cents per share (based on Refinitiv data).
Revenue of $735.5 million came in lower than estimates of $740 million (based on Refinitiv poll). However, revenue was +31% higher from the year-ago quarter. Autodesk’s revenue from subscription surged +67% to $595.8 million, slightly below the $599.6 million expectation from analysts polled by FactSet.
Looking ahead, the company predicts adjusted earnings per share of 59 cents to 63 cents for the second quarter, compared to 62 cents expected by analysts (based on Refinitiv poll). It projects revenue of $782 million to $792 million for the quarter, while analysts’ forecast $788.5 million.
For the full fiscal year, Autodesk expects adjusted earnings of $2.71 to $2.90 per share, on $3.25 billion to $3.30 billion in revenue. The Refinitiv consensus expected $2.83 in earnings per share on $3.29 billion in revenue.