Earnings came in at 65 cents per share, beating estimates by 4 cents. Sales came in at $797 million, beating estimates by $9.71 million.
The company issued weak third-quarter earnings and sales guidance.
Autodesk sees adjusted EPS between 70 cents-74 cents versus a 77 cent estimate, and sales of $820 million-$830 million versus a $838.78 million estimate.
"We closed a solid first half of the year with a very strong second quarter as revenue, billings, earnings, and free cash flow came in ahead of expectations," said Andrew Anagnost, Autodesk president and CEO. "ARR grew to a record $3.1 billion, driven by all parts of the business. Construction demonstrated continued strength with wins across all parts of the portfolio, and Fusion 360 - our design-to-manufacturing platform - continued to build momentum."
- Total ARR increased 31%
- Total billings increased 48%
- Total revenue increased 30%
Autodesk shares traded lower by 9% to $136.76 in Tuesday's after-hours session. The stock closed at $150.21.
Photo courtesy of Autodesk.
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