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Autodesk profit misses consensus by 55.6% in fiscal Q2

Autodesk Inc. said its normalized net income for the fiscal second quarter ended July 31 came to 13 cents per share, compared with the S&P Capital IQ consensus estimate of 28 cents per share.

EPS decreased 44.8% year over year from 23 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $29.4 million, a decline of 43.8% from $52.3 million in the year-earlier period.

The normalized profit margin fell to 4.6% from 9.3% in the year-earlier period.

Total revenue climbed 13.4% on an annual basis to $637.1 million from $561.7 million, and total operating expenses rose 23.1% year over year to $586.4 million from $476.4 million.

Reported net income decreased 51.0% year over year to $30.2 million, or 13 cents per share, from $61.6 million, or 27 cents per share.