Software and services company Autodesk (ADSK) reported a 15.6% increase in revenue for fourth quarter 2018, driven by ARR growth and double digit revenue growth from all geographies. Subscription plan Annualized Recurring Revenue (ARR) surpassed maintenance plan for the first time, in-line with the company’s projections.
Subscription plan ARR was $1.18 billion, which more than doubled year-over-year on a reported basis and on a constant currency basis. Total ARR for the fourth quarter increased 25% to $2.05 billion.
For first quarter 2019, the company expects revenue in the range of $565-575 million, GAAP loss per share of $0.34-0.31 and non-GAAP EPS of $0.11-0.14 under accounting standard ASC 605. Under accounting standard ASC 606, Autodesk expects revenue in the range of $550-560 million, GAAP loss per share of $0.44-0.41 and non-GAAP EPS of $0.01-0.04.
For fiscal year 2019, under accounting standard ASC 605, Autodesk expects revenue in the range of $2.49-2.54 billion, with adjusted loss per share expected in the range of $0.92-1.10 and reported loss per share in the range of $0.77-0.59.
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With the corporate world rapidly shifting to cloud-native computing after the virus outbreak changed work culture and the way businesses operate, technology providers are aggressively innovating their offerings. Hewlett Packard