Autodesk Inc. (ADSK) delivered strong second-quarter financial results, exceeding both revenue and earnings estimates. The company reported revenue of $1.5 billion for the quarter, surpassing analyst expectations of $1.48 billion. Earnings per share (EPS) came in at $2.15, exceeding estimates of $2.00.
This represents a 12% year-over-year increase in total revenue. Cash flow from operations reached $212 million, while free cash flow generated during the quarter amounted to $203 million. Current remaining performance obligations stood at $3.9 billion at the end of the quarter, marking an 11% year-over-year increase.
“Autodesk continues to generate strong and sustained momentum both in absolute terms and relative to peers,” said Andrew Anagnost, president, and CEO of Autodesk. “Our success is fueled by our ability to capitalize on the attractive long-term-growth trends we’re seeing, including increases in global reconstruction and infrastructure. This is supported by our focused strategy to deliver more valuable and connected solutions for our customers, and by the proven durability of our business.”
Looking ahead, Autodesk anticipates third-quarter revenue between $1.555 billion and $1.57 billion, exceeding estimates of $1.54 billion. The company expects third-quarter earnings to range from $2.08 to $2.14 per share, surpassing estimates of $2.12 per share. For the full year, Autodesk projects revenue between $6.08 billion and $6.13 billion, exceeding estimates of $6.05 billion. The company forecasts full-year earnings of $8.18 to $8.31 per share, surpassing estimates of $8.12 per share.
“Disciplined execution and capital deployment are driving even greater operational velocity and efficiency within Autodesk and will underpin the mechanical build of revenue and free cash flow over the next few years and GAAP margins among the best in the industry. In combination, we believe these factors will deliver sustainable shareholder value over many years,” Anagnost said.
Following the release of these results, ADSK stock surged by 5.86% to $273.35 in after-hours trading on Thursday.
