Bloomberg News

Autodesk Slumps Most Since 2008 as Forecast Falls Short

May 18, 2012

Autodesk Inc. (ADSK:US), a maker of architectural and engineering software, fell the most in more than three years after providing a second-quarter earnings forecast that trailed some analysts’ estimates.

The stock dropped 13 percent to $30.26 at the close for the biggest decline since Nov. 21, 2008. Before today, the shares had jumped 15 percent this year.

Fiscal second-quarter earnings will be 46 cents to 51 cents a share, excluding items such as stock-based compensation, the San Rafael, California-based company said yesterday after the markets closed. Analysts anticipated 51 cents on average, based on estimates compiled by Bloomberg.

To contact the reporter on this story: Cecile Daurat in Wilmington at cdaurat@bloomberg.net

To contact the editor responsible for this story: Cecile Daurat at cdaurat@bloomberg.net


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Companies Mentioned

  • ADSK
    (Autodesk Inc)
    • $53.35 USD
    • -2.26
    • -4.24%
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