Autodesk Inc ADSK is trading lower Thursday after the company announced its second-quarter fiscal 2022 financial results and issued underwhelming guidance.
Autodesk reported quarterly adjusted earnings of $1.21 per share, which beat the estimate of $1.13 per share. The company reported quarterly revenue of $1.06 billion, which narrowly beat the estimate of $1.05 billion.
Autodesk expects third-quarter fiscal 2022 earnings to be in a range of $1.22 per share to $1.28 per share versus the estimate of $1.26 per share.
The company expects third-quarter fiscal 2022 revenue to be in a range of $1.11 billion to $1.125 billion versus the estimate of $1.11 billion.
"Sustained and purposeful innovation to enable digital transformation in the industries we serve is changing our relationship with our customers from software vendor to strategic partner," said Andrew Anagnost, president and CEO of Autodesk. "And that is enabling us to create more value through end-to-end, cloud-based solutions that connect data and workflows, and power business model evolution."
Autodesk is an application software company that offers design, modeling and rendering solutions.
ADSK Price Action: Autodesk has traded as high as $344.39 and as low as $215.82 over a 52-week period.
At last check Thursday, the stock was down 8.8% at $312.15.
Photo by Creative Tools from Flickr.
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.