Autodesk Q3 profit up 36%

Autodesk Q3 profit up 36%
Autodesk's third quarter profit rose a better than expected 36% on strong revenue growth in all of its main markets.

The design software firm reported a third quarter profit of $72.8million, compared with $53.6m a year ago. Revenue rose 15% to $549m.

Carl Bass (pictured), Autodesk's president and ceo, said: "Our strong revenue gains coupled with continued cost controls resulted in a healthy improvement in profitability and cash flow from operations.

"We experienced double digit growth across all geographies, with particular strength in Asia Pacific. All of our businesses performed well, driven by continued adoption of our suites."

For the fiscal year ending in 2013, Autodesk said it expected revenue to climb by at least 10%. Looking ahead to the fourth quarter, it anticipates revenue between $575 and $590m, in line with analysts' estimates.

Author
Laura Hopperton

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