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ADSK Nasdaq· Autodesk
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ADSK Nasdaq· Autodesk
Earnings report Q4 2023

Autodesk Reports Strong Revenue Growth in Latest Quarter

Segments of revenue

In the latest quarter, Autodesk reported total net revenue of $1.41 billion, representing a significant increase of 10% compared to the same period last year. The company's revenue was primarily driven by its subscription and maintenance segment, which generated $1.33 billion in revenue, a growth of 10% year-over-year. Additionally, Autodesk's other revenue segment contributed $88 million, reflecting a growth of 16% compared to the previous year.

Strengths

Autodesk's strong revenue growth in the latest quarter can be attributed to the continued success of its subscription and maintenance business. The company's focus on providing software solutions through subscription models has resonated well with customers, leading to increased adoption and recurring revenue streams. Management attributes the growth to the ongoing digital transformation across industries, which has increased the demand for Autodesk's design and engineering software.

Challenges

Despite the overall positive performance, Autodesk faced some challenges in its cost of revenue. The cost of subscription and maintenance revenue increased to $94 million, up from $86 million in the same quarter last year. This increase can be attributed to higher expenses related to supporting and maintaining the growing subscription customer base. Additionally, the amortization of developed technologies also increased to $12 million, reflecting ongoing investments in research and development.

Noteworthy

It is worth noting that Autodesk's revenue growth in the latest quarter outpaced market expectations. The company's ability to consistently deliver strong financial results highlights its position as a leader in the design and engineering software industry. Furthermore, Autodesk continues to invest in innovation and product development, which is expected to drive future growth and maintain its competitive edge.

Summary

Autodesk reported strong revenue growth in the latest quarter, driven by its subscription and maintenance segment. The company's focus on subscription models has resulted in increased adoption and recurring revenue streams. However, Autodesk faced challenges in its cost of revenue, primarily due to higher expenses related to supporting the growing subscription customer base. Despite these challenges, Autodesk's overall performance exceeded market expectations, highlighting its position as a leader in the industry. The company's ongoing investments in innovation and product development are expected to support future growth.

Source documents

Form 10-Q  filed on Dec 04, 2023
127 pages scanned

Reference data

Company financials Q4 revenue 1.47B
Analyst estimates Q4 EPS beat by 4.98%
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