Autodesk Q4 earnings jump 591%

Autodesk Inc. (Nasdaq: ADSK) on Thursday reported fiscal fourth-quarter profit of $911.3 million, up 591% from a year before.

A jump in software subscriptions plus one-time tax benefits buoyed results for the fiscal quarter and year, the company reported.

On a per-share basis, the San Rafael-based company said it had profit of $4.10. Earnings, adjusted for non-recurring gains, came to $1.18 per share for the fiscal quarter, ended Jan. 31.

The results surpassed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.07 per share.

The design software company posted revenue of $1.04 billion in the period, also topping Street forecasts. Eight analysts surveyed by Zacks expected $1.01 billion.

For the year, the company reported profit of $1.21 billion, or $5.44 per share, up 463% from a year before. Revenue was reported as $3.79 billion, up 16% from 12 months prior.

For the current quarter ending in May, Autodesk expects its per-share earnings to range from 91 cents to 96 cents. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.07.

The company said it expects revenue in the range of $955 million to $970 million for the fiscal first quarter. Analysts surveyed by Zacks had expected revenue of $984.3 million.

Autodesk expects full-year earnings in the range of $4.78 to $5.08 per share, with revenue ranging from $4.26 billion to $4.35 billion.

Autodesk shares have declined 7% since the beginning of the year, while the Standard & Poor's 500 index has increased 2%. The stock has risen 52% in the last 12 months.