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Autodesk Lifts Outlook After Q2 Results Top Estimates; Shares Surge

By Yasin Ebrahim

Investing.com -- Autodesk on Wednesday raised its full-year outlook after reporting quarterly results that topped Wall Street estimates, led by "robust" demand for cloud services. 

Autodesk Inc (NASDAQ:ADSK) was up more than 6% in afterhours trading following the report.

The software company reported Q2 adjusted earnings of $1.65 per diluted share on revenue of $1.24 billion, topping estimates for $1.57 a share on revenue of $1.22 billion.

Looking ahead to Q3, the company forecast EPS in a range of $1.66 to $1.72 on revenue of $1.28 billion to $1.29 billion, compared with estimates for $1.67 a share on revenue of $1.27 billion.

"Demand remained robust, our competitive performance strong, and subscription business resilient during the second quarter," the company said. 

For fiscal 2023, the company lifted its outlook on revenue from $4.99 billion to $5.04 billion from a prior outlook of $4.96 billion to $5.06 billion. Adjusted EPS was also raised to a range of $6.52 to $6.71, up from $6.43 to $6.66 previously.

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.