Autodesk Exceeds Q2 Expectations, Stock Up 5%

Aug 29, 2024, 08:03 PM

Autodesk has reported strong financial results for its second quarter, surpassing analyst expectations and raising its full-year outlook. The company achieved an adjusted EPS of $2.15, beating the IBES estimate of $2.00, and reported revenue of $1.51 billion, exceeding the $1.48 billion forecast. Following these results, Autodesk's stock rose by 5% in after-hours trading. The company also announced an increase in its fiscal 2025 billings guidance, now projected to be between $5.88 billion and $5.98 billion. Autodesk attributes its performance to disciplined execution and capital deployment, which it believes will support revenue and free cash flow growth in the coming years. The EBIT margin was reported at 23%, with an adjusted EBIT margin of 37%.