ADSK Autodesk Inc

By Ben Glickman

Autodesk's revenue rose in the third quarter as the company was boosted by expansions from existing clients.

The San Francisco-based design software company posted a profit of $241 million, or $1.12 a share, in the third quarter, compared with $198 million, or 91 cents a share, a year earlier. Analysts polled by FactSet expected per-share earnings of $1.05.

Stripping out certain one-time items, adjusted per-share earnings came to $2.07, ahead of the $1.99 forecast by analysts, according to FactSet.

Revenue rose 10% to $1.41 billion, beating the $1.39 billion expected by analysts polled by FactSet.

The company's total billings fell 11% in the quarter to $1.2 billion.

Chief Financial Officer Debbie Cliffordsaid that market conditions and the "underlying momentum of the business" was steady compared to previous quarters. She said results were boosted by larger-than-expected expansions of existing enterprise agreements.

Write to Ben Glickman at ben.glickman@wsj.com

(END) Dow Jones Newswires

November 21, 2023 16:27 ET (21:27 GMT)

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