Autodesk's 3Q Profit, Sales Rise on Cloud Demand
By Kimberly Chin
Autodesk Inc. said profit rose in the third quarter as sales
climbed 13% due to strong demand for cloud-based offerings as the
Covid-19 pandemic continued to spur remote working.
The software services company's net profit was $132.2 million,
or 59 cents a share, up from $66.7 million, or 30 cents a share, a
year earlier. Adjusted earnings were $1.04 a share. Analysts polled
by FactSet expected an adjusted profit of 96 cents a share.
Revenue rose to $952.4 million from $842.7 million a year ago.
Analysts were looking for $943.3 million.
Operating expenses increased 7.4% from a year earlier to $700.7
million while costs rose 5.3% to $83.7 million.
Write to Kimberly Chin at firstname.lastname@example.org
(END) Dow Jones Newswires
November 24, 2020 16:30 ET (21:30 GMT)
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