Autodesk reports Q3 revenue jumps 28%, earnings move into black

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SAN RAFAEL, Calif. — Autodesk Inc. (Nasdaq: ADSK) on Tuesday reported fiscal third-quarter net income of $66.7 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the San Rafael-based design and media creation software company said it had profit for the quarter ended Oct. 31 of $66.7 million, or 30 cents per share, compared with a loss of $23.7 million a year before. Earnings, adjusted for one-time gains and costs, came to $173.4 million, or 78 cents per share, up 168%.

The results topped Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 73 cents per share.

The design software company posted 28% higher revenue of $842.7 million in the period, which also beat Street forecasts. Eight analysts surveyed by Zacks expected $824.1 million.

For the current quarter ending in January, Autodesk expects its per-share earnings to range from 86 cents to 91 cents.

The company said it expects revenue in the range of $880 million to $895 million for the fiscal fourth quarter. Analysts surveyed by Zacks had expected a revenue forecast of $896.9 million.

Autodesk expects full-year earnings in the range of $2.74 to $2.79 per share, with revenue ranging from $3.26 billion to $3.27 billion.

Autodesk shares have increased 33% since the beginning of the year, while the Standard & Poor’s 500 index has risen 25%. At the close of trading on Tuesday, shares hit $170.80, a rise of 23% in the last 12 months and over 1% from Monday.

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