Demand
- Beat revenue estimate by 1.9% & beat similar guidance by 1.9%.
Please note that Autodesk is shifting from multi-year contracts to annual billings which is temporarily impacting growth for that metric.
Profitability
- Beat $1.05 EPS estimates by $0.07.
- Beat $2.00 non-GAAP EPS estimates by $0.08 and beat its guidance by $0.07.
Guidance
Autodesk roughly met Q4 revenue estimates. It missed $1.07 GAAP EPS estimates by $0.05 at the midpoint. It also missed $2.00 non-GAAP EPS estimates by $0.0.6.
For the full year, it raised its revenue growth guide from 8.5% to 9%. It reiterated flat GAAP & non-GAAP EBIT margins for the year. It raised its free cash flow guidance by 1.7%. Finally, it slightly raised GAAP & non-GAAP EPS estimates thanks to Q3’s outperformance.
Balance Sheet
- $1.98 billion in cash & equivalents.
- $220 million in long-term marketable securities.
- Share count fell slightly Y/Y via $730 million in year-to-date buybacks vs. $897 million Y/Y.
