And Now, Autodesk is Slammed for Reporting Good Earnings
You have to wonder what investment analysts are thinking. Autodesk (ADSK) reports record revenues of $599 million for Q4 2007, a 20% increase of last year’s numbers and the stock is slammed over $6 per share, a roughly 15% drop. But here is what get’s them nervous. Their earnings release included the following statement: "For fiscal year 2009, the Company is maintaining its previously provided revenue guidance range of $2.425 billion and $2.475 billion. However, the company is lowering its previous estimate of earnings per diluted share."
BAM! And the stock tumbles. But what is bad news for some, is good news for others. The Motley Fool has a different take in their pronouncement that "Autodesk Will Rise Again." ADSK was selling for $50 per share as recently ad December 28th.
