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      Weak Financial Outlook puts Autodesk Inc. (ADSK) on continued Downtrend in After-Market - Stocks Telegraph

      By Gule Rukhsar

      Published on

      November 24, 2021

      7:14 AM UTC

      Weak Financial Outlook puts Autodesk Inc. (ADSK) on continued Downtrend in After-Market - Stocks Telegraph

      Autodesk Inc. (ADSK) tumbled a further 14.48% in the aftermarket, at $259.99 on November 23. During the active trading session, the stock already lost 2.09%, to close at $304.00 with a volume of 2.3 million. The day’s volume was 168% higher than the 65-day average volume of 1.37 million. The stock fluctuated between $310.70 and $297.73 during the normal trading session. While in the past 52 weeks, the stock went as high as $344.39 and as low as $252.60. The stock has lost a value of 8.88% in the past five days and 10.87% in the past three months. While it has gained a value of 17.39% in the past year. ADSK has a current market capital of $68.26 billion with 219.85 million outstanding shares.

      On November 23, ADSK announced its Q3 earnings, the financial outlook failed to impress the investors, as the stock tumbled down in the after hours.

      Autodesk Inc. (ADSK)

      Founded in 1982, Autodesk Inc. (ADSK) provides 3D design, engineering and entertainment software, and services worldwide. The company sells its products and services directly to its customers, along with a network of resellers and distributors. Its products include but are not limited to AutoCAD, BIM 360, Civil 3D, Fusion 360, InfraWorks, Inventor, Maya, PlanGrid, Shotgun, etc.

      Autodesk Inc. (ADSK) is headquartered in San Rafael, CA.

      Q3 Fiscal 2022 Highlights

      ADSK reported the financial results of its third quarter of the fiscal year 2022, on November 23, 2021. As per the quarter, the total revenues were $1,126 million, which shows an increase of 18% year over year. Moreover, the non-GAAP operating income for the third quarter was $365 million, against $287 million in Q3 of last year. Consequently, the Non-GAAP diluted net income per share stood at $1.33 in Q3 fiscal 2022, against $1.04 in Q3 last year.

      ADSK’s Business Outlook

      Once again, ADSK provided not-so-impressive future guidance for the fourth quarter and full-year fiscal 2022. As per the guidance, the company expects revenue of $1,185- $1,200 million for the fourth quarter of the fiscal year 2022. While a revenue between $4,360-$4,375 million is expected for the full fiscal year.

      Moreover, the company expects non-GAAP earnings per share between $1.41 and $1.47 for the fourth quarter. And for the full fiscal year 2022, the non-GAAP EPS is expected in the range of $4.98 to $5.04.

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