Autodesk Slides on Quarterly Figures

Autodesk (NASDAQ:ADSK) stumbled ahead of the long Thanksgiving weekend, after the company matched top- and bottom-line estimates in its latest quarterly report, but the maker of design software issued weaker-than-expected guidance for the current quarter. Autodesk noted a challenging economic environment and said customers were more reluctant to sign longer-term contracts.

Total revenue increased 14% to $1,280 million. Its GAAP operating margin was 20%, up three percentage points. Non-GAAP operating margin was 36%, up four percentage points. GAAP diluted EPS was $0.91; Non-GAAP diluted EPS was $1.70. Cash flow from operating activities was $469 million, and free cash flow was $460 million.

"We recently announced Autodesk Fusion, Forma, and Flow, our three industry clouds, which will connect data, teams and workflows in the cloud on our trusted platform," said CEO Andrew Anagnost.

"Increasing our engineering velocity, moving data from files to the cloud, and expanding our third-party ecosystem, will enable Autodesk to further increase customer value by delivering even greater efficiency and sustainability."

This month,, the Board of Directors authorized the repurchase of $5 billion of the Company's common stock, in addition to the approximately 3.8 million shares remaining, as of the end of October, under previously announced share repurchase programs. The repurchase program allows Autodesk to offset dilution and reduce shares outstanding over time.

ADSK shares descended $17.56, or 8.4%, to $191.34.