Why Autodesk Stock Is Rising After Hours

Autodesk, Inc. ADSK shares are trading higher in the after-hours session Wednesday after the company reported better-than-expected second-quarter financial results and issued third-quarter and full-year 2024 earnings per share guidance above estimates.

What To Know: The company reported quarterly earnings of $1.91 per share which beat the analyst consensus estimate of $1.72, a 15.76% increase over earnings of $1.65 per share from the same period last year. The company reported quarterly sales of $1.34 billion which beat the analyst consensus estimate of $1.32 billion, a 8.73% increase over sales of $1.24 billion the same period last year.

Cash flow from operating activities was $135 million and free cash flow was $128 million.

Autodesk anticipates third-quarter earnings per share to be in a range between $1.97 and $2.03, versus the $1.92 estimate. Revenue is estimated to be between $1.380 billion and $1.395 billion, versus the $1.38 billion estimate.

Full-year earnings per share is estimated to be in a range between $7.30 and $7.49, versus the $7.28 estimate. Revenue is anticipated to be between $5.405 billion and $5.455 billion, versus the $5.41 billion estimate.

"Augmented design, powered by Autodesk, will enable our customers to go further and faster to design and make a better world for all," said Andrew Anagnost, Autodesk president and CEO.

"We've been laying the foundation to build enterprise-level AI for years. We are building the future with focus, purpose, and optimism."

Related Link: Why Adobe Stock Is Up Today

ADSK Price Action: Shares of ADSK were up 5.98% at $216.59 in the after-hours session at the time of publication, according to Benzinga Pro.

Image by Lorenzo Cafaro from Pixabay