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Autodesk Lowers FY21 EPS View

Autodesk Inc. (ADSK) Wednesday lowered its earnings outlook for the full year 2021.

Looking forward, the software company now expects full-year adjusted earnings of $3.52 to $3.90 per share, down from prior outlook of $4.21 to $4.44 per share. Analysts polled by Thomson Reuters currently estimate earnings of $4.15 per share for 2021.

For the second quarter, Autodesk expects adjusted earnings of $0.86 to $0.92 per share and revenues of $890 million to $905 million. Analysts currently estimate earnings of $935.1 million.

For the first quarter, Autodesk reported net income of $66.5 million or $0.30 per share, compared to last year's loss of $24.2 million or $0.11.

On an adjusted basis, adjusted earnings were $188.4 million or $0.85 per share for the period. Analysts expected $0.81 per share for the quarter.

Revenues for the quarter rose 20 percent to $885.7 million from $735.5 million last year.

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