Autodesk (ADSK) late Thursday reported adjusted first-quarter earnings that topped views, with revenue that met expectations, while its July quarter earnings forecast missed estimates, sending shares down in late trades.
Autodesk said earnings were 6 cents a share, swinging to a profit from a year-earlier loss, with revenue rising 15% to $560 million. A year earlier, Autodesk reported a 16-cent per-share loss on sales of $486 million.
Analysts expected Autodesk to report earnings of 3 cents on sales of $560 million for the period ended April 30.
For the July quarter, Autodesk forecast profit in a range of 13 cents to 16 cents versus estimates of 19 cents. Autodesk said it expects revenue of $600 million, just above expectations of $599 million.
Analysts have focused on the company's annualized recurring revenue (ARR), a key metric as it shifts to a cloud computing-based subscription model from licensed software.
"Once again, our focus on driving growth in ARR has yielded strong results, which we believe will accelerate as we move through the year," Chief Executive Andrew Anagnost said in a news release. "We've now seen approximately half a million maintenance subscriptions convert to product subscriptions in less than a year and we expect that number to grow significantly in the coming quarters."
Shares in the maker of computer-aided design software fell 4.3% to 132.91 in after-hours trading in the stock market today.
YOU MAY ALSO BE INTERESTED IN:
Okta Stock Rising; Security Firm Adds Facebook, VMware As Partners
Splunk Earnings Beat Estimates, As Does Revenue Outlook
The Basics: How To Analyze A Stock's Cup With Handle
How To Find Great Growth Stocks: Learn To Spot The Flat Base, A Bullish Chart Pattern
