Autodesk Lifts FY22 Outlook; Stock Up 6%

(RTTNews) - While reporting its results for the second quarter on Wednesday, Autodesk Inc. (ADSK) lifted its outlook for the full year, sending its shares up 6% in after-hours.

Looking forward, the company now expects earnings of $3.40 to $3.59 per share, adjusted earnings of $6.52 to $6.71 per share and revenues of $4.99 billion to $5.04 billion.

Previously, the company expected earnings of $3.24 to $3.47 per share, adjusted earnings of $6.43 to $6.66 per share and revenues of $4.96 billion to $5.06 billion.

Analysts polled by Thomson Reuters currently estimate earnings of $6.54 per share and revenues of $5.01 billion.

"Demand remained robust, our competitive performance strong, and subscription business resilient during the second quarter," said Debbie Clifford, Autodesk CFO. "With the underlying momentum of the business offsetting incremental foreign exchange headwinds, our guidance is unchanged at the mid-point across all metrics. We remain well on track to achieve our fiscal 23 goals."

ADSK closed Wednesday's trading at $214.43, up $0.80 or 0.37%, on the Nasdaq. The stock further gained $13.72 or 6.40% in the after-hours trading.