Bulletin
Investor Alert

New York Markets Open in:

Nov. 24, 2020, 4:48 p.m. EST

Autodesk's Q3 profit, sales rise on cloud demand

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

or Cancel Already have a watchlist? Log In

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 kimberly.chin@wsj.com

This Story has 0 Comments
Be the first to comment
More News In
Industries

Story Conversation

Commenting FAQs »
Link to MarketWatch's Slice.