Autodesk, Inc. (NASDAQ:ADSK) reported upbeat results for its third quarter, but issued weak outlook for the fourth quarter.
The company out of San Rafael, Calif. revealed Wednesday total Annual Recurring Revenue was $3.22 billion, an increase of 28% as reported, and on a constant currency basis.
Acquisitions from the fourth quarter of last year contributed $113 million or four percentage points of the growth. On a sequential basis, total ARR increased 5% as reported, and 6% on a constant currency basis.
Total billings increased 55% to $1.01 billion.
Total revenue was $843 million, an increase of 28% as reported, and on a constant currency basis. Acquisitions from the fourth quarter of last year contributed $29 million or 4% of the growth.
GAAP operating income was $111 million compared to $15 million in the third quarter last year. GAAP operating margin was 13%, up 11 percentage points.
Said CEO Andrew Anagnost, "Our strong performance continued in Q3 as revenue, billings, ARR, earnings and free cash flow came in above expectations
"We continue to demonstrate the cash generating power of our business model, and this quarter drove a record last twelve months free cash flow of nearly $1 billion. The breadth and depth of our product portfolio in Construction paved the way for another strong quarter. In Manufacturing, we continue to displace competitors and grow faster than the overall market."
Shares jumped $6.10, or 3.6%, first thing Wednesday, to $176.90
