's (NASDAQ: ADSK) stock dropped 3% during after-hours trading on Nov. 21 after the cloud-based software company posted its latest earnings report. For the third quarter of fiscal 2024, which ended on Oct. 31, the company's revenue rose 10% year over year to $1.41 billion and exceeded analysts' expectations by $20 million. Adjusted earnings per share (EPS) grew 22% to $2.07 and also cleared the consensus forecast by $0.08.
Those headline numbers looked stable. Does Autodesk's post-earnings pullback represent a good buying opportunity for long-term investors? Let's review its growth rates, near-term challenges, and valuation to decide.
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