Autodesk Inc - ADSK STOCK NEWS

Autodesk announced its participation in several upcoming investor conferences. Notably, Autodesk will be represented at the Credit Suisse 26th Annual Technology Conference and the Wells Fargo 6th Annual TMT Summit, both on November 29, 2022, followed by the Barclays Global Technology, Media and Telecommunications Conference on December 8, 2022. Investors can access live webcasts of the presentations on Autodesk's Investor Relations website. For further inquiries, Autodesk's Investor Relations can be contacted at 415-507-6373.

Autodesk reported a 14% revenue growth to $1.28 billion and a 16% increase in billings to $1.36 billion for Q3 2023. GAAP operating margin improved by 3 percentage points to 20%, with non-GAAP operating margin rising 4 percentage points to 36%. Diluted EPS stood at $0.91 (GAAP) and $1.70 (non-GAAP). The board authorized a $5 billion share repurchase program to enhance shareholder value, as demand shifted towards annual contracts. Free cash flow increased to $460 million, indicating strong cash generation despite macroeconomic challenges.

Autodesk, Inc. (NASDAQ: ADSK) will host a third quarter fiscal 2023 financial results conference call on November 22, 2022, at 2:00 p.m. PT, available via webcast on their investor relations page. A replay will be accessible post-event after 5:00 p.m. PT. The call will provide insights into financial performance and future guidance, critical for investors evaluating Autodesk's market position.

Autodesk has launched new capabilities within Autodesk Construction Cloud, enhancing access to model data for construction project teams. Key features include model-based workflows in Autodesk Build, allowing for up-to-date 3D asset tracking, improved cost management, and reality capture integration. With soaring adoption rates, over 50,000 projects have been initiated in the platform since launch, a significant increase from 8,000 in July 2021. These updates aim to streamline workflows, reduce errors, and facilitate quicker decision-making throughout the construction process.

Autodesk (NASDAQ: ADSK) announced a strategic collaboration with Epic Games on Sept. 27, 2022, to enhance immersive real-time experiences in the Architecture, Engineering, and Construction (AEC) sectors. This partnership aims to address challenges faced by Autodesk customers, including faster project delivery and cost reduction. The initial offering will integrate Epic's Twinmotion with Autodesk Revit, providing real-time visualization tools. The collaboration extends beyond AEC, as both companies plan to leverage real-time 3D technology across multiple industries, including Media & Entertainment and manufacturing.

Autodesk, Inc. (NASDAQ: ADSK) has commenced Autodesk University (AU) 2022 in New Orleans, which runs from September 27-29. The in-person event gathers industry leaders from architecture, engineering, construction, product design, and media to address current challenges including supply chain disruptions. Autodesk is introducing three new industry clouds: Forma for AEC, Flow for media and entertainment, and Fusion for product design, aimed at enhancing digital transformation and workflow connectivity. The event includes various sessions and classes to support professional development.

Autodesk, Inc. (NASDAQ: ADSK) announced the appointment of Dara Treseder as its new chief marketing officer, effective October 14, 2022. Treseder, previously at Peloton Interactive, brings extensive experience in marketing, having worked with renowned companies like Carbon, GE, Apple, and Goldman Sachs. She is recognized for her innovative approach and has received multiple accolades including recognition from Forbes as a leading CMO. Her role will center on enhancing Autodesk's global marketing strategy, aiming to drive demand generation and elevate the brand.

Autodesk, Inc. (NASDAQ: ADSK) announced on August 25, 2022, that its executives will present at two upcoming investor conferences. The conferences are the Deutsche Bank 2022 Technology Conference on August 31, 2022, and the Citi 2022 Global Technology Conference on September 8, 2022. A live webcast and replay of these presentations will be available on Autodesk's Investor Relations website. Investors are encouraged to visit the site 15 minutes early to ensure proper setup. For further inquiries, Autodesk's Investor Relations can be contacted at 415-507-6373.

Autodesk reported a strong performance in Q2 FY2023, with revenue rising by 17% year-over-year to $1,237 million. GAAP operating margin improved to 20%, up 6 percentage points, while non-GAAP operating margin reached 36%, up 5 percentage points. GAAP diluted EPS was $0.85, a significant increase from $0.52 last year, while non-GAAP diluted EPS rose to $1.65 from $1.21. Cash flow from operations also rose to $257 million, reflecting solid growth across all key metrics.