Autodesk Outlook Spurs Buying Spree

The shares rise in extended trading after the company lifts its forecast.
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Autodesk

(ADSK) - Get Report

said second-quarter revenue rose 33% from a year ago, and the design-software maker boosted its fiscal-year guidance, lifting the company's shares after hours.

For the second quarter ended July 31, Autodesk had revenue of $373 million, up from $280 million during the prior-year period.

Second-quarter net income was $75 million, or 30 cents a share. Before items, the company earned $73 million, or 29 cents. A year ago, the San Rafael, Calif., company earned $39 million, or 16 cents a share. Excluding unusual items, Autodesk earned 18 cents a year ago.

"Our continued focus on improving our productivity and efficiency is yielding strong results," the company said Thursday. "We feel confident about growing revenues in double digits again next year. Our business prospects have never been better."

Autodesk said it expects third-quarter revenue and earnings to be essentially unchanged from the second quarter. For the fiscal year, revenue is expected to be in the range of $1.49 billion to $1.51 billion and earnings should be $1.20 to $1.25 when calculated using generally accepted accounting principles.

Shares of Autodesk added $1.99, or 5.2%, to $40.34 in extended trading. The stock gained 59 cents in the regular session.