Market Updates
Autodesk Revenues Surge On Rising Digital Collaboration
Scott Peters
25 Aug, 2022
New York City
Autodesk Inc increased 1.5% to $217.64 after the design software developer reported higher sales and earnings and offered positive outlook.
The company is benefitting as organizations accelerate digitizing processes and collaborate between departments by placing more data in the cloud.
Second quarter revenues increased 17% to $1.2 billion.
Net income in the second quarter increased to $186 million from $115 million a year ago and diluted earnings per share rose to 86 cents from 52 cents a year ago.
The company said as it moves from products to platforms and capabilities the demand for its products remains "robust."
Deferred revenue increased 12% to $3.70 billion and unbilled deferred revenue was $984 million, an increase of $141 million compared to a year ago.
Remaining performance obligations (RPO) increased 13% to $4.69 billion and current RPO increased 10% to $3.14 billion.
Cash flow from operating activities increased $55 million to $257 million and free cash flow rose $60 million to $246 million from a year ago.
Revenues for the fiscal full-year 2023 are estimated between $4.985 and $5.035, an increase between 14% and 15% from a year ago.
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