Autodesk Drops 4% as Q3 EPS Guidance Misses Despite Q2 Beat
ADSK sits 40% above its 52-week low of $185.5.
Summary
Autodesk shares fell 4% in Friday's premarket after the company's Q3 adjusted EPS guidance of $3.04-$3.09 came in below the $3.14 consensus, overshadowing a Q2 beat on both top and bottom lines. Q2 revenue rose 16% to $2.05B and EPS of $3.30 beat estimates, but the market is focused on the softer near-term profit outlook. Full-year EPS guidance of $12.52-$12.60 brackets consensus of $12.58, while revenue guidance of $8.295B-$8.345B is above the $8.21B consensus. Billings grew 10% to $1.85B and current remaining performance obligations rose 12% to $5.2B, indicating solid demand. This follows the company's recent $3.575B acquisition of MaintainX and a $1.5B debt raise to fund it. The stock's reaction suggests investors are concerned about margin pressure or integration costs impacting near-term profitability.
At the time of this announcement, ADSK was trading at $260.00 on NASDAQ in the Technology sector, with a market capitalization of approximately $57.1B. The 52-week trading range was $185.50 to $329.09. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.