SAN RAFAEL, CA, May 20, 2016 – Autodesk reported their Q1 results today. Although there was a 9% increase in their annualized revenue, this quarter’s revenue stood at $512M, a drop of 21% compared to the first quarter last year, with a loss of $173M.

Comparative analysis based on Autodesk’s financial results in the last 12 quarters (Result source Autodesk website)

Comparative analysis based on Autodesk’s financial results in the last 12 quarters (Result source Autodesk website)

Autodesk president and CEO, Carl Bass said: “We had a strong first quarter, which builds on last quarter’s momentum and is a great start to the fiscal year. Our customers and partners continue to embrace Autodesk’s transition to a subscription-based business model and cloud-based software. We continue to diligently control our costs while investing in the transition. We’re striking a healthy balance in achieving both short-term and long-term goals.”

A complete chart of the financial results is available here.

Earnings Conference Call and Webcast

Autodesk will host its first quarter conference call today at 5:00PM ET. The live broadcast can be accessed at http://www.autodesk.com/investors. Supplemental financial information and prepared remarks for the conference call will be posted to the investor relations section of Autodesk’s website simultaneously with this press release.

A replay of the broadcast will be available at 7:00PM ET at http://www.autodesk.com/investors. This replay will be maintained on Autodesk’s website for at least 12 months.

About Autodesk

Autodesk helps people imagine, design and create a better world. Everyone – from design professionals, engineers and architects to digital artists, students and hobbyists – uses Autodesk software to unlock their creativity and solve important challenges.

For more information visit autodesk.com or follow @autodesk.