Autodesk Easily Beats Estimates

SAN FRANCISCO -- Autodesk(ADSK Quote) handily beat Wall Street's second-quarter estimates Thursday.

Revenue at the San Rafael, Calif. software company grew 17.8% to $619.5 million, from $525.9 million for the same quarter of last year. Analysts were expecting revenue of $606.4 million, according to Thomson Reuters.

Net income fell 2% to $89.8 million, or 39 cents a share, from $91.6 million, or 38 cents a share, in the year-ago period.

Excluding special items, EPS was 56 cents. Analysts were looking for earnings of 52 cents a share.

Shares were up $1.65, or 4.8%, to $36 in extended trading.

In addition to a benefit from exchange rates, Autodesk's performance was driven by sales of its 3D design software, as well as maintenance revenue growth, the company said in a statement.

The developer of computer-aided engineering software raised third-quarter guidance to revenue ranging from $625 million to $635 million and EPS, less items, of 54 cents to 56 cents.

Analysts were expecting a top line of $622 million and EPS, less items, of 55 cents. The company had previously projected revenue ranging from $615 million to $630 million and EPS of 53 cents to 55 cents.

For the full year, the company narrowed projected ranges while leaving upper limits unchanged. Revenue will total between $2.5 billion and $2.53 billion. EPS will range from $2.24 to $2.30. The consensus estimate of analysts was for revenue of $2.5 billion and EPS, excluding items, of $2.24.