© Shutterstock Autodesk reports in-line Q1, guidance misses estimates
Investing.com — Autodesk (NASDAQ:) reported first-quarter of $1.55 on revenues of $1.27 billion, both in line with analysts’ estimates, as demand for the U.S. software company’s subscription plans jumped.
Shares in Autodesk moved higher in premarket U.S. trading on Friday.
Chief Financial Officer Debbie Clifford in a statement said that the business had been boosted by rising renewal rates and “robust” free cash flow generation.
Total billings grew 4% to $1.172B in the three months ended on April 30.
“The quarter was good and showed stabilizing trends while macros remained consistent from [the fourth quarter of 2023],” analysts at RBC Capital Markets said in a note following the results.
For its current quarter, the group anticipates that income per share will be in the range of $1.70 to $1.74, worse than the consensus of $1.78. Revenue is seen coming in at $1.315B to $1.325B, compared to the $1.33B expected by analysts.
Meanwhile, Autodesk unveiled a forecast for earnings per share of $7.07-$7.41 this year. Annual revenue was estimated at $5.35 – $5.45B.
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