Autodesk sees weaker results, to cut 750 jobs
NEW YORK (Reuters) - Software maker Autodesk Inc (ADSK.O) issued a fourth quarter estimate that fell short of Wall Street views and said it would cut about 750 jobs. Shares fell 12 percent in Thursday's premarket trading.
The engineering software maker, whose chairman Carol Bartz was this week named chief executive of Yahoo Inc (YHOO.O), expects fourth quarter revenue in the range of $475 million and $500 million, and earnings per share of 18 cents to 24 cents.
Analysts on average had expected revenue of $536.9 million and a profit of 31 cents a share, according to Reuters Estimates.
"Global economic conditions continue to impact our end-user demand," said Carl Bass, president and chief executive, in a statement.
Shares of Autodesk fell 12 percent to $15.65 in premarket trade on Thursday.
(Reporting by Franklin Paul)
- Tweet this
- Share this
- Digg this