Updated from Nov. 18

Autodesk

(ADSK) - Get Report

continued to wow Wall Street, posting third-quarter earnings that more than tripled from a year ago, guiding revenue way up and setting a 2-for-1 stock split.

In premarket Instinet trading, the shares surged $5.03, or 8.3%, to $65.68. The stock was trading south of $15 in August 2003 and is up 168% this year.

Third-quarter net income rose to $74 million, or 60 cents a share, including tax benefits of $29 million and a $3 million pretax restructuring charge. A year earlier, the company earned $23 million, or 20 cents a share.

Excluding the items in the latest quarter, pro forma third quarter net income was $48 million, or 38 cents a share.

Revenue climbed 28% to $300 million from $234 million a year earlier.

A Thomson First Call consensus survey had been expecting Autodesk to earn 34 cents a share on revenue of $283 million.

Autodesk's performance was driven by strong revenue from new seats, increasing penetration of its 3D products, continued success with the subscription program, and continued commitment to improved productivity and efficiency.

For the fourth quarter, Autodesk said it expects revenue of $335 million to $445 million and pre-split pro forma earnings of 52 cents to 57 cents a share.

Analysts had expected earnings of 53 cents a share and revenue of $315.9 million.

For fiscal 2006, Autodesk anticipates revenue of $1.33 billion to $1.38 billion and pre-split earnings of $2 to $2.15 a share, based on a newly estimated tax rate of 20%.

Analysts were expecting on average revenue of $1.29 billion and earnings of $1.87 a share.

The company pulled its 3-cent quarterly dividend, saying its money was better spent elsewhere.