SAN RAFAEL, CA, Nov 29, 2017 – Autodesk reported their Q3 results. This quarter’s revenue stood at $515M, a rise of 3% compared to the second quarter of this year, with a loss of $120M.
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)
“We are pleased with another solid quarter of execution and progress on our business model transition,” said Andrew Anagnost, Autodesk president and CEO. “We’re experiencing healthy trends in several key transition metrics, including ARR and deferred revenue growth, as customers continue to embrace our new subscription offerings. As we enter the growth phase of our model transition, we need to re-balance investments to focus on our strategic priorities. This includes divesting from some areas and increasing our investment in others. We’re taking this restructuring action from a position of strength. This is not a cost reduction activity as we maintain our commitment to keep total non-GAAP spend flat this year and next.”
“Our third quarter results mark our return to revenue growth as we reached the one year mark of subscription-only sales,” said Scott Herren, Autodesk CFO. “We are excited to have reached a significant milestone where the base of subscription plan subscriptions has surpassed the base of maintenance plan subscriptions for the first time. We are also experiencing early success with the maintenance-to-subscription program, which is a winning combination for both our customers and Autodesk. Our solid third quarter results and stable macro operating environment keep us confident in our near-term and long-term goals.”
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 their software. Autodesk gives you the power to make anything.
For more information visit autodesk.com.
