Autodesk Shares Rise After Company Reports Narrower Quarterly Loss

Autodesk Inc. shares rose more than 5% late Thursday after the software company reported a narrower-than-expected adjusted loss in the fiscal first quarter and higher sales. Autodesk said it lost $129.6 million, or 59 cents a share, in the quarter, compared with a loss of $167.7 million, or 75 cents a share, in the year-ago period. Adjusted for one-time items, Autodesk reported a loss of 16 cents a share, compared with a loss of 10 cents a share a year ago. Revenue reached $486 million, down 5% from last year. Analysts polled by FactSet had expected an adjusted loss of 23 cents a share on sales of $470 million. The company called for fiscal second-quarter sales between $488 million and $500 million and a per-share GAAP loss between 66 cents and 60 cents.