Autodesk, Inc. (ADSK) Thursday reported first-quarter profit of $55.6 million or $0.24 per share, down from $78.9 million or $0.34 per share in the same period last year.
Adjusted earnings for the quarter was $0.42 per share. On average, 19 analysts polled by Thomson Reuters expected the company to earn $0.45 per share for the quarter. Analysts' estimates typically exclude special items.
Revenues dropped to $570.4 million from $588.6 million last year. Analysts expected revenues of $583.40 million.
Looking ahead to the second quarter, the company targets earnings in the range of $0.21 to $0.26 per share, with adjusted earnings ranging between $0.39 and $0.44 per share.
Revenues are forecast in a range of $550 million to $570 million. Analysts currently expect the company to earn $0.51 per share on revenues of $597.53 million for the second quarter.
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