Autodesk Q2 Results Top Estimates

(RTTNews) - Autodesk, Inc. (ADSK) reported net income for the second quarter of $31.3 million or $0.13 per share, compared to $61.7 million or $0.27 per share for the year-ago quarter.

Excluding items, adjusted net income for the second quarter was $82.0 million or $0.35 per share, compared to $101.8 million or $0.45 per share in the prior year quarter.

Revenue for the second quarter rose 13% to a record $637.1 million from $561.7 million in the same quarter last year.

Analysts polled by Thomson Reuters expected the company to earn $0.29 per share on revenue of $603.39 million for the second quarter. Analysts' estimates typically exclude special items.

Looking forward to the third quarter, the company forecasts revenue of $$590 million to $605 million, earnings between a loss of $0.05 per share and profit of $0.01 per share and adjusted earnings of $0.17 to $0.23 per share. Analysts currently expect the company to earn $0.28 per share on revenue of $588.19 million for the third quarter.

For the full year fiscal 2015, the company now forecasts revenue growth of 7% to 9%, up from its prior forecast of 4% to 6% and better than analysts' current forecast of 5.70% growth.