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.
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.