Autodesk, Inc. (NASDAQ: ADSK) has reported third-quarter revenues and earnings that matched analysts’ estimates. The results benefitted from a double-digit increase in billings.
Adjusted earnings of the San Rafael-based design software company rose to $1.70 per share in the October quarter from $1.34 per share in the corresponding period of last year, meeting the consensus estimates. On a reported basis, net income was $198 million or $0.91 per share in the latest quarter, compared to $137 million or $0.62 per share in the third quarter of 2022.
The company reported total revenues of $1.28 billion for the latest quarter, which is up 14% from the prior-year period. The top line also came in line with the market’s forecast.
Check this space to read management/analysts’ comments on Autodesk’s Q3 2023 earnings
“We recently announced Autodesk Fusion, Forma, and Flow, our three industry clouds, which will connect data, teams, and workflows in the cloud on our trusted platform. Increasing our engineering velocity, moving data from files to the cloud, and expanding our third-party ecosystem, will enable Autodesk to further increase customer value by delivering even greater efficiency and sustainability,” said Autodesk’s CEO Andrew Anagnost.