Autodesk reported earnings of 25 cents a share for the fourth quarter, beating analysts' estimates of 24 cents a share. Revenue grew 13.3% year over year to $664.6 million for the quarter, beating analysts' estimates of $650.51 million.
The software company said it added 100,000 PC software, maintenance, and cloud subscriptions in the fourth quarter, bringing its total number of subscribers to 2.23 million. Autodesk added 285,000 subscribers in fiscal year 2015, above its guidance of 325,000 to 375,000 added subscriptions for the year.
Exclusive Report:Jim Cramer's Best Stocks for 2015
Autodesk said it expects to report earnings of 25 cents to 30 cents a share and revenue of $625 million to $645 million for the first quarter of fiscal year 2016. Analysts expect the company to report earnings of 32 cents a share and revenue of $627.5 million for the quarter.
The company said it expects to add 375,000 to 435,000 subscribers in fiscal year 2016.
TheStreet Ratings team rates AUTODESK INC as a Hold with a ratings score of C+. TheStreet Ratings Team has this to say about their recommendation:
"We rate AUTODESK INC (ADSK) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, good cash flow from operations and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, disappointing return on equity and feeble growth in the company's earnings per share."
You can view the full analysis from the report here: ADSK Ratings Report