Autodesk (ADSK) Tops Q2 EPS by 8c, Revenues Beat; Offers 3Q & FY21 EPS/Revenue Guidance

(Updated - August 25, 2020 4:14 PM EDT)

Autodesk (NASDAQ: ADSK) reported Q2 EPS of $0.98, $0.08 better than the analyst estimate of $0.90. Revenue for the quarter came in at $913 million versus the consensus estimate of $899.25 million.

Second Quarter Fiscal 2021 Financial Highlights

• Total revenue increased 15 percent to $913 million;
• GAAP operating margin was 16 percent, up 7 percentage points;
• Non-GAAP operating margin was 29 percent, up 5 percentage points;
• GAAP diluted EPS was $0.44; Non-GAAP diluted EPS was $0.98;
• Cash flow from operating activities was $91 million; free cash flow was $64 million.

"We delivered a strong second quarter as a result of our resilient business model and strategic nature of our products," said Andrew Anagnost, Autodesk president and CEO. "Our cloud-based solutions are helping our customers stay productive in the current environment, and have resulted in expanded relationships and usage of our products. I am very proud of our team as we continue to deliver on our long-term strategic goals, and remain confident in our growth drivers and fiscal 2023 targets."

"With solid performance across all key metrics, our second quarter results demonstrated the strength of our business," said Scott Herren, Autodesk CFO. "As a result of our adaptability, outstanding execution in a difficult environment, and healthy renewal rates, we delivered 15 percent year-over-year growth in revenue, expanded our operating margin by 5 percentage points, and delivered robust free cash flow."

GUIDANCE:

Autodesk sees Q3 2021 EPS of $0.91-$0.97, versus the consensus of $0.95. Autodesk sees Q3 2021 revenue of $930-945 million, versus the consensus of $939.13 million.

Autodesk sees FY2021 EPS of $3.72-$3.90, versus the consensus of $3.78. Autodesk sees FY2021 revenue of $3.715-3.765 billion, versus the consensus of $3.73 billion.

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

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