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Autodesk fiscal Q2 loss widens 79.5% YOY

Autodesk Inc. said its normalized net income for the fiscal second quarter ended July 31 was a loss of 29 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 16 cents per share.

The per-share loss increased 82.6% year over year from 16 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $63.6 million, compared with a loss of $35.4 million in the year-earlier period.

The normalized profit margin fell to negative 12.7% from negative 6.4% in the year-earlier period.

Total revenue decreased 8.9% on an annual basis to $501.8 million from $550.7 million, and total operating expenses totaled $598.3 million, compared with $597.6 million in the prior-year period.

Reported net income came to a loss of $144.9 million, or a loss of 66 cents per share, compared with a loss of $98.2 million, or a loss of 44 cents per share, in the prior-year period.