Autodesk stock slumps as outlook overshadows earnings beat

Autodesk Inc.
ADSK,
+2.06%
shares declined in the extended session Thursday after the enterprise software company’s outlook overshadowed its earnings beat. Autodesk shares fell as much as 6% after hours, following a 2.1% rise in the regular session to close at $221.16. Autodesk forecast earnings of $1.50 to $1.56 a share on revenue of $1.26 billion to $1.28 billion for the first quarter, and $6.98 to $7.32 a share on billings of $5.03 billion to $5.18 billion for the year. Analysts had estimated $1.64 a share on revenue of $1.27 billion for the first quarter, and $7.38 a share on billings of $5.62 billion for the year. The company reported fourth-quarter net income of $293 million, or $1.35 a share, compared with $89 million, or 40 cents a share, in the year-ago period. Adjusted earnings, which exclude stock-based compensation expenses and other items, were $1.86 a share, compared with $1.50 a share in the year-ago period. Revenue rose to $1.32 billion from $1.21 billion in the year-ago quarter. Analysts surveyed by FactSet had forecast $1.81 a share on revenue of $1.31 billion.