Autodesk Holding On To Substantial Gain In Late-Day Trading

(RTTNews) - Shares of Autodesk, Inc. (ADSK) are hovering firmly in positive territory in late-day trading on Wednesday after an initial move to the upside. Autodesk is currently up by 9.7 percent.

The initial jump by Autodesk came after the design software developer reported better than expected third quarter results and provided upbeat guidance for the current quarter.

Autodesk reported third quarter adjusted earnings of $0.29 per share on revenues of $660.9 million, while analysts had expected earnings of $0.27 per share on revenues of $642.3 million

The company also forecast full-year earnings of $0.95 to $0.99 per share compared to analyst estimates for $0.93 per share.