The 10-second takeaway
For the quarter ended Oct. 31 (Q3), Autodesk missed estimates on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue was unchanged and GAAP earnings per share contracted significantly.
Gross margins increased, operating margins contracted, net margins dropped.
Autodesk recorded revenue of $548.0 million. The 17 analysts polled by S&P Capital IQ predicted revenue of $559.9 million on the same basis. GAAP reported sales were 0.1% lower than the prior-year quarter's $548.6 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.47. The 19 earnings estimates compiled by S&P Capital IQ forecast $0.43 per share. GAAP EPS of $0.13 for Q3 were 59% lower than the prior-year quarter's $0.32 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 89.4%, 30 basis points better than the prior-year quarter. Operating margin was 12.7%, 370 basis points worse than the prior-year quarter. Net margin was 5.3%, 800 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $604.2 million. On the bottom line, the average EPS estimate is $0.54.
Next year's average estimate for revenue is $2.32 billion. The average EPS estimate is $1.92.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 758 members out of 818 rating the stock outperform, and 60 members rating it underperform. Among 237 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 229 give Autodesk a green thumbs-up, and eight give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Autodesk is hold, with an average price target of $34.78.
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