- Autodesk (NASDAQ:ADSK) shares are up 3.5% aftermarket thanks to Q2 EPS and revenue beats, guidance that mostly beat consensus, and the launch of a successful subscription conversion program.
- Revenue was down 7% in the Americas to $214M and down 10% in EMEA to $199M. APAC revenue dropped the most on the year, down 12% to $89M.
- Annualized Recurring Revenue (annualized value of average monthly recurring revenue for prior 3 months): Total, $1.83B (+21% Y/Y) ; Maintenance plan (perpetual license maintenance), $1.05B (-5%) ; Subscription plan (term-based product subscriptions, cloud services, flexible enterprise arrangements), $784M (+94%).
- Total subscriptions increased 153K from Q1 to total 3.44M. Subscription plan subscriptions increased 270K to total 1.59M, which benefitted from 63K maintenance subscribers converting to product subscriptions in the maintenance-to-subscription program that launched mid-quarter.
- Deferred revenue was up 17% to $1.78B and unbilled deferred revenue was $63M at the end of the quarter.
- Q3 outlook: revenue, $505M to $515M (consensus: $516.25M); EPS, -$0.16 to -$0.12 (consensus: -$0.13).
- FY18 outlook: revenue, $2.03B to $2.05B (consensus: $2.04B); EPS, -$0.61 to -$0.54 (consensus: -$0.56); net subscription additions, 625K to 675K; Total ARR growth, 24% to 26%.
- Press release
- Previously: Autodesk beats by $0.04, beats on revenue (Aug. 24)
- Now read: VMWare shares up slightly after Q2 beats
Original article