Autodesk (ADSK) Tops Q4 EPS by 4c; Issues Mixed Outlook

Autodesk (NASDAQ: ADSK) reported Q4 EPS of $0.46, $0.04 better than the analyst estimate of $0.42. Revenue for the quarter came in at $737 million versus the consensus estimate of $707.18 million.

• Total ARR was $2.75 billion, an increase of 34 percent compared to the fourth quarter last year as reported, and 32 percent on a constant currency basis. Included in total ARR is a $27 million contribution from the fourth quarter acquisitions, or 1 percentage point of the increase. Under the prior revenue accounting standard, ASC 605, total ARR was $2.72 billion, an increase of 32 percent compared to the fourth quarter last year.
• Subscription plan ARR was $2.20 billion, an increase of 87 percent compared to the fourth quarter last year as reported, and 85 percent on a constant currency basis. Included in subscription plan ARR is a $27 million contribution from the fourth quarter acquisitions, or 2 percentage points of the increase. Under ASC 605, subscription plan ARR was $2.16 billion, an increase of 84 percent compared to the fourth quarter last year.
• Total subscriptions increased 252,000 from the third quarter of fiscal 2019 to 4.33 million at the end of the fourth quarter. Included in subscription additions this quarter is a 127,000 contribution from the fourth quarter acquisitions.
• Subscription plan subscriptions increased 418,000 from the third quarter of fiscal 2019 to 3.53 million at the end of the fourth quarter. Subscription plan subscriptions benefited from 110,000 maintenance subscribers that converted to product subscription under the maintenance-to-subscription program. Included in subscription plan subscriptions is a 127,000 contribution from the fourth quarter acquisitions.

GUIDANCE:

Autodesk sees Q1 2020 EPS of $0.44-$0.48, versus the consensus of $0.57. Autodesk sees Q1 2020 revenue of $735-745 million, versus the consensus of $724.11 million.

For earnings history and earnings-related data on Autodesk (ADSK) click here.

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