Design software company Autodesk, Inc. (NASDAQ: ADSK) Tuesday said its third-quarter profit increased, helped by strong revenue growth. Earnings also exceeded analysts’ forecast.
The San Rafael, California-based tech firm reported adjusted earnings of $1.04 per share for the October-quarter, higher than $0.78 per share reported in the year-ago quarter and above analysts’ consensus forecast. Net income rose to $132.2 million or $0.59 per share from $66.7 million or $0.30 per share in the third quarter of 2020.
At $952 million, third-quarter revenues were up 13% from last year. The top-line also surpassed the market’s projection.
Shares of Autodesk gained 38% so far this year. The stock dropped on Tuesday evening soon after the earnings release, after closing the regular trading session higher.
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