Shares of Autodesk Inc. (ADSK, Financial) gained almost 10% on Wednesday after announcing third-quarter results. The company posted earnings per share of 29 cents on $660.9 billion in revenue, a 28.3% year-over-year growth. The company beat earnings estimates by 2 cents and revenue expectations by $20 million.
By geographic area, revenue in the Americas was $269 million, a 25%Ă‚ increase compared to the same quarter last year. Revenue in Europe, the Middle East and Africa was $267 million, up 30%. Sales in Asia-Pacific were $126 million, an increase of 32%.
Looking ahead to the fourth quarter, the company now expects revenues to be between $700 million and $710 million and earnings to fall between18 cents and 22 cents per share.
Shares of Caleres Inc. (CAL, Financial) fell almost 8% after reporting third-quarter results. The company registered earnings of 81 cents per share on $775.83 million in revenue, 0.2% year-over-year growth. The company fell 7 cents short of earnings estimates, but beat revenue expectations by $10.83 million.
The gross profit reached $310.6 million, the gross margin was 40% and the adjusted gross margin was 40.3%.
Looking ahead, the company expects total sales of $2.85 billion. It projects diluted earnings per share between $2.25 and $2.35.
Shares of Deere & Co. (DE, Financial) gained more than 3% after the company posted fourth-quarter earnings of $2.30 per share on revenue of $8.34 billion, reflecting 17.6% year-over-year growth. The company fell short of earnings estimates by 14 cents and revenue expectations by $260 million.
Despite the miss, the outlook is strong. The company expects equipment sales to increase 7% next year. Worldwide sales of agricultural equipment are projected to rise 3% and worldwide sales of construction and forestry equipment are forecasted to increase 15%.
Disclosure:The author holds no positions in any stocks mentioned.
