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Autodesk Lifts FY21 Earnings Outlook

(RTTNews) - Autodesk Inc. (ADSK) Tuesday lifted its earnings outlook for the full year 2021.

Looking forward to the full year 2021, the software company now expects full-year adjusted earnings of $3.72 to $3.90 per share, up from prior outlook of $3.52 to $3.90 per share. Analysts polled by Thomson Reuters currently estimate earnings of $3.78 per share for 2021.

For the third quarter, Autodesk expects earnings of $0.91 to $0.97 per share and revenues of $930 million to $945 million. Analysts currently estimate earnings of $0.95 per share on revenues of $939.13 million.

The San Rafael, California-based company reported second-quarter profit of $98.2 million or $0.44 per share, up from $40.2 million or $0.18 per share last year.

Excluding items, adjusted earnings were $218.0 million or $0.98 per share for the period. Analysts expected earnings of $0.90 per share.

Revenues for the quarter grew 14.6% to $913.1 million from $796.8 million last year. Analysts had a consensus revenue estimate of $899.25 million.

"We delivered a strong second quarter as a result of our resilient business model and strategic nature of our products," said CEO Andrew Anagnost. "Our cloud-based solutions are helping our customers stay productive in the current environment, and have resulted in expanded relationships and usage of our products. I am very proud of our team as we continue to deliver on our long-term strategic goals, and remain confident in our growth drivers and fiscal 2023 targets."

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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