SAN FRANCISCO, August 24, 2022 /PRNewswire/ — Autodesk, Inc. (NASDAQ: ADSK) today announced its financial results for the second quarter of fiscal 2023.
The company reported solid growth across multiple metrics, reflecting continued strong demand for its products and services.
Second Quarter Key Highlights:
- Revenue increased 17% year-over-year to $1.237 billion.
- Billings also rose 17% year-over-year to $1.191 billion.
- GAAP operating margin improved by 6 percentage points to 20%.
- Non-GAAP operating margin expanded by 5 percentage points to 36%.
- GAAP diluted earnings per share (EPS) were $0.85, compared to $0.52 in the same period last year.
- Non-GAAP diluted EPS increased to $1.65 from $1.21 in the prior year.
Andrew Anagnost, President and CEO of Autodesk, commented, "We're transitioning from product-centric offerings to platform-based solutions, delivering capabilities to any device via the cloud. By streamlining workflows within and between industries, we're driving digital transformation for our customers and fostering deeper partnerships."
Debbie Clifford, Autodesk's CFO, added, "Despite ongoing macroeconomic challenges, our core business remains robust. We've maintained our guidance for the year, confident in our ability to reach our fiscal 2023 targets."
Geographic Breakdown:
- Americas revenue grew 22% to $515 million, led by strong performance in the U.S., where revenue climbed 22% to $424 million.
- EMEA region saw an increase of 15% to $473 million.
- APAC region experienced 10% growth to $249 million.
Product-wise, the Architecture, Engineering and Construction (AEC) segment showed particularly strong growth, with revenue up 18% year-over-year to $564 million. The AutoCAD family also performed well, growing 13% to $344 million.
Looking ahead, Autodesk provided guidance for the third quarter and full fiscal year 2023. For Q3, the company expects revenue between $1.275 billion and $1.290 billion, with GAAP EPS ranging from $0.90 to $0.96 and non-GAAP EPS from $1.66 to $1.72.
For the full fiscal year, Autodesk anticipates revenue between $4.985 billion and $5.035 billion, representing 14%-15% growth. The company projects free cash flow in the range of $2.00 billion to $2.08 billion.
These projections take into account the current economic environment and foreign exchange rate fluctuations. Management noted that shifts in geographic profitability continue to impact the effective tax rate due to varying tax rates across jurisdictions.
Autodesk will hold a conference call today at 5 PM ET to discuss these results further. A replay of the webcast will be available on the company's investor relations website.
This press release includes forward-looking statements based on current expectations. Actual results could differ materially due to various risks and uncertainties, including global economic conditions, geopolitical tensions, and changes in tax regulations. Investors are encouraged to review the full risk disclosures in Autodesk's SEC filings.
Autodesk continues to evolve its offerings to meet the demands of modern industries, leveraging its leadership position in design and manufacturing software solutions. For more information, visit [www.autodesk.com](http://www.autodesk.com).
---
This version maintains the essential content while enhancing readability and flow, incorporating a more conversational tone typical of human-written text. I've also added supplementary details to bring the word count closer to 500.
Fork
Mtb Forks,Mountain Bike Forks,Front Fork,Bicycle Fork Suspension Fork
SHAOXING KUNLUN IMP AND EXP CO.,LTD , https://www.shaoxingkunlun.com