Autodesk Rallies After Hours On Strong FY Q2
Autodesk (ADSK) shares have rallied sharply in late trading on better-than-expected results for its fiscal second quarter ended July 31.
For the quarter, ADSK posted revenue of $620 million and non-GAAP profits of 56 cents a share; the Street had expected $606.1 million and 52 cents.
For Q3, the company sees revenue of $625 million and non-GAAP EPS of 54-56 cents; the Street had been looking for $622 million and 55 cents. For Q4, Autodesk sees revenue of $660 million to $680 million and non-GAAP profits of 64-68 cents a share.
For the full fiscal year ending in January, ADSK sees revenue of $2.5 billion to $2.53 billion and non-GAAP profits of $2.24-$2.30 a share; that compares to the Street view of $2.5 billion and $2.24.
After hours, ADSK is up $2.65, or 7.7%, to $37.
Autodesk is a software company with clear goals and advanced technology. Its 3D solutions such as Inventor, Revit, Civil 3D, NavisWorks, Robobat and Moldflow give it real advantage in a segment of market with very demanding users. By the way, Carl Bass, Autodesk CEO said the success of his company is a “combination of strong market position, industry and geographic diversification, a strong balance sheet, and excellent cash flow”.
Domingo
http://www.comlab-corp.com
Tech Trader Daily is a blog on technology investing written from Palo Alto, California by long-time Barron's West Coast Editor Eric J. Savitz. The blog provides news, analysis and original reporting on events important to investors in software, hardware, the Internet, telecommunications and related fields.
