Revenue grew by 33% to $737 million. On a constant currency basis, revenue climbed by 31%. Included in revenue was a $7 million contribution from the fourth quarter acquisitions or 1 percentage point of the increase.
Looking ahead into the first quarter, the company expects revenue in the range of $735 million to $745 million and earnings in the range of $0.06 to $0.10 per share. Adjusted earnings are anticipated to be in the range of $0.44 to $0.48 per share.
For the full year 2020, Autodesk predicts revenue in the range of $3.25 billion to $3.30 billion and earnings in the range of $1.12 to $1.31 per share. Adjusted earnings are anticipated to be in the range of $2.71 to $2.90 per share.
The company expects total annualized recurring revenue (ARR) to grow 27% to 29% to the range of $3.50 billion to $3.55 billion. Billings are anticipated to grow by the range of 50% to 53% to the range of $4.05 billion to $4.15 billion. Free cash flow is predicted to be about $1.35 billion.
For the fourth quarter, total annualized recurring revenue (ARR) grew by 34% to $2.75 billion helped by 87% jump in subscription plan ARR. Total subscriptions increased by 16.4% to 4.33 million at the end of the fourth quarter. Deferred revenue rose by 7% to $2.09 billion. Billings jumped by 39% to $1.04 billion.
“Fiscal 2019 was a year of solid execution as we accomplished multiple financial milestones that have positioned us well to keep driving growth in fiscal 2020 and beyond. We’re exiting the business model transition with a much more predictable business at 95% recurring revenue and feel confident about our free cash flow goal for fiscal 2020,” finance chief Scott Herren said.
Revenue in the Americas grew by 29% year-over-year while that in EMEA jumped by 35%. Revenue in APAC climbed by 38% compared to the previous year quarter.
Shares of Autodesk ended Thursday’s regular session down 0.77% at $163.01 on the Nasdaq. The stock has risen over 38% in the past year and over 12% in the past three months.