Autodesk Inc. Earnings: Earnings Higher Than Expected

S&P 500 (NYSE:SPY) component Autodesk Inc. (NASDAQ:ADSK) reported net income above Wall Street’s expectations for the fourth quarter. Autodesk is a design software and services company, offering progressive business solutions to customers in the architecture, engineering and construction, manufacturing, and digital media and entertainment industries.

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Autodesk Earnings Cheat Sheet for the Fourth Quarter

Results: Net income for Autodesk Inc. rose to $72 million (31 cents per share) vs. $61.6 million (26 cents per share) in the same quarter a year earlier. This marks a rise of 16.9% from the year-earlier quarter.

Revenue: Rose to $5.92 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Autodesk Inc. reported adjusted net income of 46 cents per share. By that measure, the company beat the mean estimate of 38 cents per share. It beat the average revenue estimate of $584.3 million.

Quoting Management: “Our strong fourth quarter performance capped a terrific year for Autodesk,” said Carl Bass, Autodesk president and CEO. “We finished the year with another strong quarter of diversified revenue growth and increased profitability. Demand for our suites, AutoCAD, and AutoCAD LT products led to strong revenue growth across all of our geographies and record revenues in the Americas. We also achieved record revenue in both our Manufacturing and AEC business segments.”

Key Stats:

For the past five quarters, the company has seen double-digit year-over-year percentage revenue growth. Over that span, the company has averaged growth of more than threefold, with the biggest boost coming in the most recent quarter when revenue rose 1022.6% from the year earlier quarter.

The company has now seen its net income increase for three consecutive quarters. In the third quarter, net income rose 35.8% and in the second quarter, the figure rose 18.9%.

The company has now surpassed analyst estimates for four quarters in a row. It beat the mark by 2 cents in the third quarter, by one cent in the second quarter, and by one cent in the first quarter.

Looking Forward: Expectations for the first quarter of the next fiscal year have not changed from 38 cents. The average estimate hasn’t changed from $1.39 per share for the fiscal year.

(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)

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To contact the reporter on this story: Derek Hoffman at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com

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