Autodesk Shares Rise 5% After 1Q Earnings, Revenue Beat Forecasts

By Sabela Ojea

Shares of Autodesk edged higher Wednesday, a day after the company reported higher-than-expected earnings and revenue in the fiscal first quarter amid views for further growth in the second quarter.

The stock rose 5.2% to $222.57. Shares have dropped 8.7% since the beginning of the year.

The San Francisco-based design-software company said adjusted earnings for the three months ended April 30 came in at $1.87 a share. Analysts polled by FactSet had forecast adjusted earnings per share of $1.80.

Revenue rose 12% to $1.42 billion, beating the $1.40 billion expected by Wall Street, according to FactSet. The company's design and subscription plan topline performances boosted Autodesk's total revenue.

For fiscal 2025, the company expects adjusted earnings per share of $7.99 to $8.21, and revenue of $5.99 billion to $6.09 billion. Analysts forecast full-year adjusted earnings of $8.13 a share and revenue of $6.05 billion.

Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix

(END) Dow Jones Newswires

June 12, 2024 12:17 ET (16:17 GMT)

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