Autodesk Lifts Outlook After Q2 Results Top Estimates; Shares Surge
2022.08.25 00:22
By Yasin Ebrahim
Investing.com — Autodesk on Wednesday raised its full-year outlook after reporting quarterly results that topped Wall Street estimates, led by “robust” demand for cloud services.
Autodesk Inc (NASDAQ:ADSK) was up more than 6% in afterhours trading following the report.
The software company reported Q2 adjusted earnings of $1.65 per diluted share on revenue of $1.24 billion, topping estimates for $1.57 a share on revenue of $1.22 billion.
Looking ahead to Q3, the company forecast EPS in a range of $1.66 to $1.72 on revenue of $1.28 billion to $1.29 billion, compared with estimates for $1.67 a share on revenue of $1.27 billion.
“Demand remained robust, our competitive performance strong, and subscription business resilient during the second quarter,” the company said.
For fiscal 2023, the company lifted its outlook on revenue from $4.99 billion to $5.04 billion from a prior outlook of $4.96 billion to $5.06 billion. Adjusted EPS was also raised to a range of $6.52 to $6.71, up from $6.43 to $6.66 previously.
