Press release
AUTODESK, INC. ANNOUNCES FISCAL 2024 SECOND QUARTER RESULTS
- Second quarter revenue grew 9 percent, and 12 percent at constant exchange rates, to $1.3 billion.- Current remaining performance obligations were $3.5
About this update from Autodesk, Inc.
[{"type":"text","content":"- Second quarter revenue grew 9 percent, and 12 percent at constant exchange rates, to $1.3 billion.- Current remaining performance obligations were $3.5 billion, up 12 percent year over year.\nSAN FRANCISCO, Aug. 23, 2023 /PRNewswire/ -- Autodesk, Inc. (NASDAQ: ADSK) today reported financial results for the second quarter of fiscal 2024.\n\n \n \n \n \n \n \n\n \nAll growth rates are compared to the second quarter of fiscal 2023, unless otherwise noted. A reconciliation of GAAP to non-GAAP results is provided in the accompanying tables. For definitions, please view the Glossary of Terms later in this document.\nSecond Quarter Fiscal 2024 Financial Highlights\nTotal revenue increased 9 percent to $1,345 million;GAAP operating margin was 19 percent, down 1 percentage point;Non-GAAP operating margin was flat at 36 percent;GAAP diluted EPS was $1.03; Non-GAAP diluted EPS was $1.91;Cash flow from operating activities was $135 million; free cash flow was $128 million.\"Augmented design, powered by Autodesk, will enable our customers to go further and faster to design and make a better world for all,\" said Andrew Anagnost, Autodesk president and CEO. \"We've been laying the foundation to build enterprise-level AI for years. We are building the future with focus, purpose, and optimism.\"\n\"Our sustained momentum in the second quarter, and early expansion of some enterprise business agreements expected to renew later in the year, reduce the likelihood of our more cautious forecast scenarios,\" said Debbie Clifford, CFO of Autodesk. \"Given that, we are raising the lower end of our guidance ranges.\"\nAdditional Financial Details\nTotal billings decreased 8 percent to $1,095 million.Total revenue was $1,345 million, an increase of 9 percent as reported, and 12 percent on a constant currency basis. Recurring revenue represents 98 percent of total.Design revenue was $1,154 million, an increase of 8 percent as reported, and 12 percent on a constant currency basis. On a sequential basis, Design revenue increased 6 percent as reported, and 7 percent on a constant currency basis.Make revenue was $130 million, an increase of 15 percent as reported, and 17 percent on a constant currency basis. On a sequential basis, Make revenue increased 7 percent as reported, and 8 percent on a constant currency basis.Subscription plan revenue was $1,270 mil...