Autodesk Misses on the Top and Bottom Lines

Autodesk (Nasdaq: ADSK  ) reported earnings on May 16. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended April 30 (Q1), Autodesk missed estimates on revenues and missed estimates on earnings per share.

Compared to the prior-year quarter, revenue dropped. Non-GAAP earnings per share shrank. GAAP earnings per share dropped significantly.

Margins shrank across the board.

Revenue details
Autodesk chalked up revenue of $570.4 million. The 17 analysts polled by S&P Capital IQ predicted revenue of $583.4 million on the same basis. GAAP reported sales were the same as the prior-year quarter's.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
EPS came in at $0.42. The 19 earnings estimates compiled by S&P Capital IQ forecast $0.45 per share. Non-GAAP EPS of $0.42 for Q1 were 11% lower than the prior-year quarter's $0.47 per share. GAAP EPS of $0.24 for Q1 were 29% lower than the prior-year quarter's $0.34 per share.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Margin details
For the quarter, gross margin was 88.2%, 180 basis points worse than the prior-year quarter. Operating margin was 14.3%, 170 basis points worse than the prior-year quarter. Net margin was 9.7%, 370 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)

Looking ahead
Next quarter's average estimate for revenue is $562.6 million. On the bottom line, the average EPS estimate is $0.43.

Next year's average estimate for revenue is $2.37 billion. The average EPS estimate is $1.97.

Investor sentiment
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 785 members out of 845 rating the stock outperform, and 60 members rating it underperform. Among 237 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 231 give Autodesk a green thumbs-up, and six give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Autodesk is outperform, with an average price target of $41.47.

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