Autodesk (NASDAQ: ADSK) reported second-quarter financial results after the closing bell on Tuesday. The software company reported a 15% increase in Q2 revenue to $913 billion, beating Wall Street consensus. Net earnings of $0.98 per share also surpassed what analysts had anticipated.
However, ADSK shares fell 2.5% immediately following the announcement, on a 12% decline in billings. The stock has increased by 34% so far this year.
CFO Scott Herren said, “As a result of our adaptability, outstanding execution in a difficult environment, and healthy renewal rates, we delivered 15 percent year-over-year growth in revenue, expanded our operating margin by 5 percentage points, and delivered robust free cash flow.”
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