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Autodesk profit misses consensus by 84.9% in fiscal Q3

Autodesk Inc. said its normalized net income for the fiscal third quarter ended Oct. 31 came to 3 cents per share, compared with the S&P Capital IQ consensus estimate of 22 cents per share.

EPS declined 83.4% year over year from 20 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $7.8 million, a decrease of 83.1% from $45.8 million in the year-earlier period.

The normalized profit margin fell to 1.3% from 8.3% in the year-earlier period.

Total revenue increased 11.3% year over year to $618.0 million from $555.2 million, and total operating expenses increased 25.0% from the prior-year period to $603.4 million from $482.7 million.

Reported net income fell 79.7% from the prior-year period to $11.6 million, or 5 cents per share, from $56.9 million, or 25 cents per share.