Why Autodesk Stock Crashed 15% Today

Shares of computer aided design (CAD) software-maker Autodesk (NASDAQ: ADSK) imploded Wednesday, falling 15.4% through 10:35 a.m. ET despite beating expectations in its fiscal third-quarter 2022 earnings report released last night.

Heading into Q3, analysts had forecast that Autodesk would earn $1.26 per share (non-GAAP) on sales of $1.12 billion. In fact, Autodesk earned pro forma profits of $1.33 per share, and its sales eked out a tiny win over expectations -- $1.26 billion.  

Image source: Getty Images.

Continue reading

Source Fool.com