Autodesk Inc (NASDAQ:ADSK) stock was up 6.5% in early deals boosted by results after Wednesday’s close that edged above analyst forecasts.
The engineering software company reported second-quarter revenue increased 9% year over year, to $1.35 billion which was better than the $1.32 billion anticipated by the market. At $1.91, earnings per share (EPS) for the period beat expectations by $0.18.
"Our sustained momentum in the second quarter, and early expansion of some enterprise business agreements expected to renew later in the year, reduce the likelihood of our more cautious forecast scenarios," Autodesk (NASDAQ:ADSK) chief financial officer Debbie Clifford said in a statement.
"Given that, we are raising the lower end of our guidance ranges."
For the full year 2024, Autodesk now sees EPS of $7.30 to $7.49 on $5.41 billion to $5.46 billion in revenue.
Analysts had expected 2024 EPS and revenue of $7.28 and $5.41 billion, respectively.
In New York, Autodesk was up US$13.45 or 6.5% changing hands at US$217.81.