The company forecast revenue of $820 million to $830 million for the fiscal third quarter. Analysts surveyed by FactSet had been expecting the company to post revenue of $838.4 million for the period. Autodesk forecast adjusted earnings in the third quarter of 70 cents to 74 cents. Analysts had been projecting 78 cents.
For its fiscal year ending in January, Autodesk said it expects adjusted earnings of $2.69 to $2.81 a share, down from its previous guidance of $2.71 to $2.90. The company also projected revenue of $3.24 billion to $3.27 billion, lower than its prior guidance.
For its fiscal second quarter, Autodesk posted adjusted earnings of 65 cents a share on sales of $797 million. Analysts had expected Autodesk to report earnings of 61 cents a share on sales of $787 million.
"While we continue to execute well and are not materially impacted by current trade tensions and macro uncertainty, we are taking a prudent stance to our second half fiscal 2020 outlook," said Andrew Anagnost, Autodesk president and CEO, in a statement.
The stock declined 11.59% to $132.80 in trading Wednesday.
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