5 Stocks That Delivered Upbeat Financial Results

2. Autodesk, Inc. (NASDAQ: ADSK)

Number of Hedge Fund Holders: 64

Autodesk, Inc. (NASDAQ: ADSK) recently announced better-than-expected profit and sales for the second quarter, but its financial outlook for the third quarter missed estimates. As a result, Autodesk shares have lost significant value over the past few days.

The software company reported adjusted earnings of $1.21 per share, ahead of analysts’ average estimate of $1.13 per share. Autodesk, Inc. (NASDAQ: ADSK) has posted adjusted earnings of 98 cents per share in the comparable period of 2020. In addition, revenue for the quarter jumped 16 percent on a year-over-year basis to $1.06 billion and matched the consensus forecast.

Discussing the results, CFO Debbie Clifford said:

“Robust growth in new product subscriptions, accelerating digital sales, and improving subscription renewal rates drove our strong second quarter results,” said Debbie Clifford, Autodesk CFO.”

Looking forward, Autodesk, Inc. (NASDAQ: ADSK) expects adjusted earnings in the range of $1.22 per share to $1.28 per share for the third quarter, below the consensus forecast of $1.30 per share. Revenue for the current quarter is expected to come between $1.11 billion to $1.13 billion, in line with $1.12 billion estimated by analysts.