Sign up to create alerts for Instruments,
Economic Events and content by followed authors
Free Sign Up Already have an account? Sign In
Quotes
All Instrument Types
- All Instrument Types
- Indices
- Equities
- ETFs
- Funds
- Commodities
- Currencies
- Crypto
- Bonds
- Certificates
Please try another search
🚨 NDVA surged 43%. This AI Chipmaker Could Be Next See Analysis
Autodesk dips on soft outlook; analysts focused on upcoming Investor Day
Published Feb 24, 2023 08:16
© Shutterstock
By Senad Karaahmetovic
Autodesk (NASDAQ:ADSK) reported better-than-expected results for the fourth quarter but a soft outlook pushed shares into the red.
The company reported EPS of $1.86 on revenue of $1.32 billion, beating the consensus for earnings of $1.81 per share on sales of $1.31B. Billings rose 28% year-over-year to $2.12B, crushing the average analyst estimate of $1.93B. The 8.2% jump in subscription revenues helped the total sales increase by 8.8% YoY.
Shares trade 5% lower in pre-open Friday.
"Overall, the demand environment in Q4 remained consistent with Q3 with the approaching transition from up-front to annual billings for multi-year contracts, and a large renewal cohort, providing a tailwind to billings and free cash flow," said Debbie Clifford, Autodesk CFO.
At the midpoint of its guidance, the company sees FQ1 EPS of $1.53 on revenue of $1.2675B. Analysts were expecting earnings of $1.64 per share on sales of $1.27B.
For the full year of 2024, Autodesk sees EPS of $7.15 (up or down 17c), missing the consensus of $7.31. Revenue is seen in the range of $5.355-5.455B, again below expectations for revenue of $5.46B. Full-year billings are expected in the range of $5.03-5.18B, below the average analyst estimate of $5.34B.
Stifel analysts said investors’ focus was on the “long-awaited FY24 guidance,” with the focus now shifting to the upcoming Investor Day (March 22).
“WNet/net, given the slightly weaker-than-consensus guidance along with outperformance this year (ADSK +18% vs. Nasdaq +11%), we are not surprised to see shares modestly trade-off in AH. While we acknowledge macro-uncertainty, we believe Autodesk has a number of drivers to sustain double-digit top-line growth and op-margin/FCF expansion in coming years,” they said in a note.
MoffettNathanson analyst added:
“All the key guidance points are now on the table and that leaves the upcoming Analyst Day to just focus on the details or underpinnings of the guide.”
Related Articles
Add Chart to Comment
Confirm Block
Are you sure you want to block %USER_NAME%?
By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.
%USER_NAME% was successfully added to your Block List
Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.
Report this comment
I feel that this comment is:
Comment flagged
Thank You!
Your report has been sent to our moderators for review
Add a Comment
We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.