Autodesk (ADSK) Releases Earnings Results, Beats Expectations By $0.04 EPS

Autodesk (ADSK) reported quarterly earnings results on Thursday, May-19-2016. The company said it had a profit of $-0.10 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.04. Analysts had a consensus of $-0.14. The company posted revenue of $511.90 million in the period, compared to analysts expectations of $513.00 million. The company’s revenue was down -20.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.30 EPS.

Many Wall Street Analysts have commented on Autodesk. Company shares were Reiterated by Wedbush on May 12, 2016 to “Neutral”, Firm has raised the Price Target to $ 55 from a previous price target of $50 .Shares were Reiterated by Barclays on Feb 22, 2016 to “Overweight” and Lowered the Price Target to $ 65 from a previous price target of $70 .

Autodesk opened for trading at $57.94 and hit $59.36 on the upside on Monday, eventually ending the session at $59.08, with a gain of 2.09% or 1.21 points. The heightened volatility saw the trading volume jump to 27,68,571 shares. Company has a market cap of $13,263 M.

In a different news, on May 3, 2016, Carl Bass (Chief Executive Officer) sold 15,000 shares at $60.40 per share price. According to the SEC, on Apr 25, 2016, Steven M Blum (SVP, Worldwide Sales) sold 15,000 shares at $60.00 per share price. On Apr 5, 2016, Paul D. Underwood (VP, PAO & Corporate Controller) sold 581 shares at $56.43 per share price, according to the Form-4 filing with the securities and exchange commission.

Autodesk Inc. (Autodesk) is a design software and services company offering customers productive business solutions through technology products and services. The Company serves customers in the architecture engineering and construction; manufacturing and digital media consumer and entertainment industries. The Company operates in four segments: Architecture Engineering and Construction (AEC) Platform Solutions and Emerging Business (PSEB) Manufacturing (MFG) and Media and Entertainment (M&E). The PSEB AEC and MFG segments offer a range of services including consulting support and training. The M&E segment offers software products to creative professionals post-production facilities and broadcasters for a variety of applications including feature films television programs commercials music and corporate videos interactive game production Web design and interactive Web streaming.


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