Shares of software products and services provider Autodesk, Inc. (ADSK) declined 7% to close at $318.44 in Wednesday’s extended trade even though the company reported better-than-expected results for the second quarter of fiscal 2022. Quarterly net revenues jumped 16% year-over-year to $1.06 billion, surpassing the Street's expectations of $1.05 billion. This increase can be attributed to a 21% year-over-year rise in Subscription revenues, which stood at $1.02 billion and constituted 96.2% of the total net revenues. The company reported quarterly earnings per share (EPS) of $1.21, up 23.5% from the same quarter last year. Further, the figure comfortably outpaced analysts' estimates of $1.13 per share.
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