Autodesk (NASDAQ: ADSK) reported Q3 EPS of $0.14, $0.06 better than the analyst estimate of $0.08. Revenue for the quarter came in at $600 million versus the consensus estimate of $591.33 million.

Autodesk sees Q4 2015 EPS of $0.08-$0.12, versus the consensus of $0.10. Autodesk sees Q4 2015 revenue of $620-640 million, versus the consensus of $640.98 million.

Autodesk sees FY2015 EPS of $0.72-$0.76, versus the consensus of $0.67. Autodesk sees FY2015 revenue of $2.475-2.495 billion, versus the consensus of $2.49 billion.

"Autodesk continues to focus on delivering world-class software and great experiences to our customers, while driving our business model transition as rapidly as possible,” said Carl Bass, Autodesk president and CEO. "We are balancing the necessary investments in the transition with our ongoing focus on spend management, leading to better than expected profitability for the quarter. And we remain confident in our long-term view that our business model transition will deliver a 20 percent CAGR in subscriptions and a 24 percent CAGR in ARR through fiscal year 2020."

Third Quarter Operational Overview

Total subscriptions were 2.47 million, an increase of approximately 80,000 from the second quarter of fiscal 2016. Maintenance subscriptions were 2.10 million, an increase of 33,000. New model subscriptions (Desktop, enterprise flexible license, and cloud subscription) were 366,000, an increase of 47,000. The increase in new model subscriptions was led by Desktop subscriptions.

Total annualized recurring revenue (ARR) for the third quarter increased 15 percent to $1.35 billion compared to the third quarter last year as reported and 18 percent at constant currency. Maintenance ARR was $1.13 billion and increased 6 percent compared to the third quarter last year. New model ARR was $221 million and increased 100 percent compared to the third quarter last year.

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