SAN RAFAEL, CA, Aug 28, 2017 – Autodesk reported financial results for the second quarter of fiscal 2018. This quarter’s revenue stood at $501.8M, up 3.4% compared to the first quarter of this year, with a loss of $144M.
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)
“Once again, we experienced broad-based strength across all subscription plan types and geographies,” said Andrew Anagnost, Autodesk president and CEO. “We’re seeing positive trends in ARR growth, especially with products that were first to move to subscription-only. These products are further into the transition and have ARR growth rates well above our current average, offering additional proof that our model transition is working. Subscription is delivering a better experience to our customers, expanding our market opportunities in construction and manufacturing, and increasing the customer lifetime value for Autodesk.
“During the second quarter we started offering a simple path for maintenance customers to move to subscription,” continued Anagnost. “While the program didn’t begin until midway through the quarter, it is off to a great start with nearly one-in-four renewal opportunities moving to subscription.”
“Strong execution across the board and a steady macro operating environment led to another quarter of better than expected results,” said Scott Herren, Autodesk CFO. “We’ve been able to achieve these results while diligently controlling costs. Overall, our first half results increase our confidence that the transition is working for our customers and partners. It also sets us up for success for the rest of the year and reinforces our conviction in our FY 20 targets.”
A complete chart of the financial results is available here.
About Autodesk
Autodesk makes software for people who make things. If you’ve ever driven a high-performance car, admired a towering skyscraper, used a smartphone, or watched a great film, chances are you’ve experienced what millions of Autodesk customers are doing with our software. Autodesk gives you the power to make anything.
For more information visit autodesk.com.
