**Autodesk Reports Strong Second Quarter Fiscal 2023 Results**
SAN FRANCISCO, Aug. 24, 2022 /PRNewswire/ — Autodesk, Inc. (NASDAQ: ADSK) today announced its financial results for the second quarter of fiscal 2023. The company showed impressive growth across multiple metrics, reflecting its continued commitment to innovation and customer-centric solutions.
**Key Financial Highlights:**
- **Revenue Growth:** Total revenue rose by 17% year-over-year to reach $1.237 billion.
- **Billings:** Billings also increased by 17%, reaching $1.191 billion.
- **Operating Margins:** GAAP operating margins expanded by 6 percentage points, while non-GAAP operating margins improved by 5 percentage points.
- **Earnings Per Share (EPS):** GAAP diluted EPS was $0.85, while non-GAAP diluted EPS stood at $1.65.
- **Cash Flow:** Operating cash flow was $257 million, with free cash flow totaling $246 million.
**Leadership Perspective:**
Andrew Anagnost, President and CEO of Autodesk, expressed optimism about the company's trajectory: "We're transitioning from standalone products to comprehensive platforms and capabilities, making our offerings accessible across any device via the cloud. By streamlining workflows within and between industries, we’re driving the digital transformation of our customers and strengthening our partnerships."
Debbie Clifford, Autodesk's CFO, echoed this sentiment: "Customer demand remains robust, our competitive position is strong, and our subscription model continues to demonstrate resilience. Despite foreign exchange headwinds, we remain confident in achieving our fiscal 2023 goals."
**Geographic Performance:**
The Americas region led with 22% revenue growth, driven primarily by the U.S. market, which accounted for $424 million in revenue. Europe, Middle East, and Africa (EMEA) saw a solid 15% increase, while Asia-Pacific (APAC) posted a 10% year-over-year growth rate.
**Segment Breakdown:**
- **Architecture, Engineering, and Construction (AEC):** Grew by 18% to $564 million.
- **AutoCAD and AutoCAD LT:** Increased by 13% to $344 million.
- **Manufacturing (MFG):** Up 16% to $242 million.
- **Media and Entertainment (M&E):** Rose by 20% to $71 million.
**Future Outlook:**
Looking ahead, Autodesk projects third-quarter revenue in the range of $1.275 billion to $1.290 billion, with GAAP EPS expected to be between $0.90 and $0.96. For the full fiscal year, the company anticipates billings of $5.705 billion to $5.805 billion, representing an 18% to 21% increase.
**Conclusion:**
Autodesk’s performance underscores its leadership in the design and manufacturing software space. With strong execution and a clear vision for the future, the company is well-positioned to capitalize on emerging opportunities in the digital transformation landscape.
*For more details, including a reconciliation of GAAP to non-GAAP results and additional financial metrics, refer to the accompanying tables.*
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