Autodesk, Inc. (ADSK) Tops Q1 EPS by 11c; Raises Outlook

Autodesk, Inc. (NASDAQ: ADSK) reported Q1 EPS of $0.32, $0.11 better than the analyst estimate of $0.21. Revenue for the quarter came in at $593 million versus the consensus estimate of $568.58 million.

Autodesk, Inc. sees Q2 2014 EPS of $0.25-$0.30, versus the consensus of $0.28. Autodesk, Inc. sees Q2 2014 revenue of $565-610 million, versus the consensus of $576.32 million.

"Our year is off to an encouraging start. We had solid first quarter results and made meaningful progress on our business model transition with the addition of over 89,000 subscriptions,” said Carl Bass, Autodesk president and CEO. "Continued strength in our suites and Architecture, Engineering and Construction (AEC) business segment, strong demand in Asia Pacific (APAC), and solid performance in our Manufacturing business drove financial results above our expectations.

“While we experienced strong growth in our cloud and desktop subscriptions (rental)," Bass continued, "strong growth in maintenance subscriptions was the primary driver behind the increase in total subscriptions, as expected. Late in the first quarter we launched AutoCAD LT as a desktop subscription on a global basis and were pleased with the initial response. We look forward to building on these early successes and transitioning Autodesk to an even more profitable and recurring, subscription-based model over the next four years.”

Full Year Fiscal 2015

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

You May Also Be Interested In

• AeroVironment restates quarterly financials, citing $89M goodwill error
• Morgan Stanley sees little room left in steel rally, cuts Cleveland-Cliffs rating
• Benchmark Starts Boyd Gaming (BYD) at Buy