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Autodesk Stock Slides On Q3 Earnings: Key Details From Quarter
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Autodesk Stock Slides On Q3 Earnings: Key Details From Quarter
Nov 26, 2024 2:13 PM

Autodesk Inc ( ADSK ) reported third-quarter financial results after the market close on Tuesday. Here’s a rundown of the report.

Q3 Revenue: $1.57 billion, versus estimates of $1.56 billion

Q3 Adjusted EPS: $2.17, versus estimates of $2.12

Total revenue was up 11% year-over-year. Total billings increased 28% year-over-year to $1.54 billion. Cash flow from operations was $209 million, while free cash flow totaled $199 million in the quarter. The company ended the period with $1.44 billion in cash and cash equivalents.

“Autodesk is leading the industry in modernizing its go-to-market motion. These initiatives enable us to build larger and more durable direct relationships with our customers and to serve them more efficiently. We have already seen significant benefits from these optimization initiatives and there’s more to come in the next phase,” said Andrew Anagnost, president and CEO of Autodesk ( ADSK ).

See Also: Amazon Prime Vs. Netflix: MrBeast Game Show Arrives Dec. 19, ‘Squid Game’ Season 2 Drops 1 Week Later

Outlook: Autodesk ( ADSK ) expects fourth-quarter revenue to be in the range of $1.623 billion to $1.638 billion versus estimates of $1.621 billion. The company sees fourth-quarter earnings of $2.10 to $2.16 per share versus estimates of $2.12 per share.

Autodesk ( ADSK ) anticipates full-year revenue of $6.12 billion to $6.13 billion versus estimates of $6.11 billion. The company expects full-year earnings to be between $8.29 and $8.35 per share versus estimates of $8.27 per share.

Autodesk ( ADSK ) announced the appointment of Janesh Moorjani as the company’s CFO, effective Dec. 16. Management will hold a conference call to further discuss the quarter with analysts and investors at 5 p.m. ET.

ADSK Price Action: Autodesk ( ADSK ) shares were down 8.53% after hours, trading at $290.83 at the time of publication Tuesday, according to Benzinga Pro.

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