Autodesk (NASDAQ:ADSK) started Friday behind Thursday’s close, after Autodesk provided soft guidance on first-quarter earnings. The company beat analysts’ expectations on the top and bottom line for the fourth quarter, however, according to Refinitiv.
Fourth-quarter total revenue increased 9% to $1.32 billion; GAAP operating margin proved 21%, up nine percentage points; Non-GAAP operating margin was 36%, up one percentage point; GAAP diluted EPS was $1.35; Non-GAAP diluted EPS was $1.86 ; Cash flow from operating activities was $911 million; free cash flow was $903 million.
For the full year, Total billings increased 20% to $5.80 billion. Total revenue was $5.01 billion, an increase of 14% as reported, and 15% on a constant currency basis. Recurring revenue represents 98% of total.
GAAP diluted net income per share was $3.78 , compared to $2.24 last year. Cash flow from operating activities increased to $2.07 billion , compared to $1.53 billion in fiscal 2022. Free cash flow increased to $2.03 billion , compared to $1.48 billion in fiscal 2022.
"As we deliver next-generation technology and services to our customers, the pace of transformation within and between the industries we serve will accelerate, generating large new growth opportunities for Autodesk," said CEO Andrew Anagnost. "We started seeing the shift towards connected digital workflows in the cloud in product design and manufacturing, then in architecture, followed by building engineering, and more recently construction. And we are now seeing growing momentum with owners."
ADSK shares dumped $23.21, or 10.5% to $197.95.
