Design Software Leader Autodesk Beats First-Quarter Sales, Earnings Goals

Autodesk (ADSK), a maker of computer-aided design software and workflow tools, late Thursday reported fiscal first-quarter results that beat analyst estimates. But ADSK stock wavered in extended trading.

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The San Rafael, Calif.-based company earned an adjusted $1.03 a share on sales of $989 million for the quarter ended April 30. Analysts expected Autodesk earnings of 94 cents a share on sales of $965 million. In the year-earlier period, Autodesk earnings were 85 cents a share on sales of $885.7 million.

In after-hours trading on the stock market today, ADSK stock alternated between modest gains and losses. During the regular session Thursday, ADSK stock slid 2% to 286.67.

Earnings report details to follow.

Follow Patrick Seitz on Twitter at @IBD_PSeitz for more stories on consumer technology, software and semiconductor stocks.

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