Stock Market Alert (NASDAQ:ADSK) Misses 4Q Profit Estimate, Shares Plunge
Stock Market News
Dallas, TX 11/18/2009 03:18 PM GMT (TransWorldNews)
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Autodesk, Inc. (NASDAQ:ADSK) fell 8.60% to $24.68 in the opening session after the company gave a fourth-quarter earnings outlook on Tuesday that was lower than Wall Street expectations, and the software maker said that its recovery could be hindered by continued job losses in its core markets.
The company reported earnings for the third quarter of 27 cents per share, excluding special items, 4 cents better than the market estimate of 23 cents per share. Revenue for the quarter was $417 million, which compares to the estimate of $415.33 million.
Autodesk, Inc. is a design software and services company. The Company offers products and solutions to customers in the architectural, engineering and construction, manufacturing, geospatial mapping, and digital media and entertainment markets. The Company’s two-dimension (2D) horizontal design solutions include AutoCAD and AutoCAD LT.
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