Shares of design software maker Autodesk (ADSK) slumped on Friday after the company reported lower-than-expected fiscal first-quarter revenue and profit, and provided weak guidance.
Autodesk stock was down 4.82%, or $8.17, at $161.37 in Friday afternoon trading on the Nasdaq Stock Market. The shares ended the trading day Thursday down 2.58%, or $4.49, at $169.54.
The San Rafael, Calif.-based company posted a net loss of $24.2 million, or 11 cents a share, in its fiscal first quarter, vs. a loss of $82.4 million, or 38 cents a share, in the comparable year-earlier period. On a non-GAAP adjusted basis, the company earned $99 million, or 45 cents a share, below analysts' expectations of 47 cents.
For the second quarter, Autodesk said it expects earnings per share of 59 cents to 63 cents, excluding certain items, on $782 million to $792 million in revenue. Analysts were anticipating earnings of 62 cents a share and revenue of $788.5 million for the quarter.
For its full fiscal year, Autodesk is now anticipating per-share earnings of between $2.71 and $2.90, and revenue of between $3.25 billion and $3.30 billion, bellow current consensus estimates of earnings of $2.83 a share and revenue of $3.29 billion.