×

UPDATE 1-Autodesk reports smaller loss than expected, shares jump

(Adds stock price, subscription revenue, company strategy)

March 6 (Reuters) - AutoCAD design software maker Autodesk Inc reported a smaller-than-expected loss in the fourth quarter as it signed up more subscribers, driving its stock up 10 percent in after-hours trading on Tuesday.

Autodesk's subscription revenue, which makes up over half its total revenue, more than doubled to $293.7 million in the quarter ending Jan. 31.

The San Rafael, California-based company, which competes with Adobe Systems, Ansys and Dassault Systemes for design software customers, is gaining from a shift to a subscription-based business model that helps bring in more recurring revenue.

The company reported a net loss of $173.5 million compared with $173.4 million a year earlier. Excluding one-time items, Autodesk lost 9 cents per share, smaller than the 11 cents analysts on average were expecting, according to Thomson Reuters I/B/E/S.

Total revenue rose 15.7 percent to $553.8 million, higher than analysts' expectations of $544.7 million. (Reporting by Laharee Chatterjee in Bengaluru; Editing by Sai Sachin Ravikumar)