Autodesk, Inc. ADSK shares are trading higher in the after-hours session Wednesday after the company reported better-than-expected second-quarter financial results and issued third-quarter and full-year 2024 earnings per share guidance above estimates.
What To Know: The company reported quarterly earnings of $1.91 per share which beat the analyst consensus estimate of $1.72, a 15.76% increase over earnings of $1.65 per share from the same period last year. The company reported quarterly sales of $1.34 billion which beat the analyst consensus estimate of $1.32 billion, a 8.73% increase over sales of $1.24 billion the same period last year.
Cash flow from operating activities was $135 million and free cash flow was $128 million.
Autodesk anticipates third-quarter earnings per share to be in a range between $1.97 and $2.03, versus the $1.92 estimate. Revenue is estimated to be between $1.380 billion and $1.395 billion, versus the $1.38 billion estimate.
Full-year earnings per share is estimated to be in a range between $7.30 and $7.49, versus the $7.28 estimate. Revenue is anticipated to be between $5.405 billion and $5.455 billion, versus the $5.41 billion estimate.
"Augmented design, powered by Autodesk, will enable our customers to go further and faster to design and make a better world for all," said Andrew Anagnost, Autodesk president and CEO.
"We've been laying the foundation to build enterprise-level AI for years. We are building the future with focus, purpose, and optimism."
Related Link: Why Adobe Stock Is Up Today
ADSK Price Action: Shares of ADSK were up 5.98% at $216.59 in the after-hours session at the time of publication, according to Benzinga Pro.
Image by Lorenzo Cafaro from Pixabay
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
