Autodesk Inc. (ADSK) shares plummeted 5.34% in after-hours trading on Thursday, following the release of its first-quarter financial results.
The digital design software company reported adjusted earnings of $2.99 per share, surpassing the consensus estimate of $2.84, while revenue of $1.93 billion also beat expectations. However, the stock turned lower as the company's raised full-year guidance for fiscal 2027 only modestly exceeded analyst forecasts, failing to meet heightened investor expectations that had been priced into the shares.
Concurrently, Autodesk announced a definitive agreement to acquire maintenance and operations software provider MaintainX for approximately $3.6 billion in an all-cash transaction. The after-hours decline reflects a market sentiment of disappointment with the forward outlook despite the quarterly beat, characterized by some observers as a "sell-the-news" reaction.