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Why Autodesk's Stock Plunged 10% Today

TheMotleyFool

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Shares of software giant Autodesk (NASDAQ: ADSK) fell as much as 10% in trading on Thursday after the company reported worse-than-expected financial results. Shares have stayed near their lows most of the day and are down 8.3% at 1:15 p.m. EDT.

Second-quarter revenue was up 16% from a year ago to $1.06 billion, meeting analyst estimates, and net income was up 18% to $115.6 million, or $1.21 per share on an adjusted basis, above the $1.13 per share estimate. So, why is the stock down?

Image source: Getty Images.

Source Fool.com

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