Autodesk Stock Jumps On Q3 Earnings: 'Customers Remain Committed To Transformation'

Autodesk Inc ADSK shares are trading higher in Thursday's after-hours session on the heels of the company's third-quarter results. Here's a rundown of the report and a look at what's driving the action.

Q3 Earnings: Autodesk said third-quarter revenue increased 10% year-over-year to $1.41 billion, which beat the consensus estimate of $1.39 billion, according to Benzinga Pro. The company reported quarterly adjusted earnings of $2.07 per share, which beat analyst estimates of $1.99 per share.

Operating margin was 24% in the quarter. Cash flow from operating activities totaled $18 million and the company generated $13 million in free cash flow.

"Autodesk AI and Platform Services will enable Autodesk, our customers, and partners to build more valuable, data driven, and connected products and services in our industry clouds and on our platform," said Andrew Anagnost, president and CEO of Autodesk.

"Our customers remain committed to transformation, and to Autodesk, evidenced by our largest-ever EBA signed during the quarter, and record contributions from our construction and water verticals to our overall EBA performance."

Guidance: Autodesk sees fourth-quarter revenue in the range of $1.422 billion to $1.437 billion versus estimates of $1.43 billion. Full-year revenue is expected to be between $5.45 billion and $5.465 billion versus estimates of $5.43 billion

Autodesk anticipates fourth-quarter earnings of $1.91 to $1.97 per share versus estimates of $2.01 per share. Full-year earnings are expected to be between $7.43 and $7.49 per share versus estimates of $7.46 per share. 

Management will hold a conference call to discuss these results at 5 p.m. ET.

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ADSK Price Action: Autodesk shares were up 3.45% after hours at $225.18 at the time of publication, according to Benzinga Pro.

Photo: courtesy Autodesk.