Autodesk (ADSK) Q2 Earnings: What To Expect

Design software company Autodesk (NASDAQ:ADSK) will be announcing earnings results tomorrow after market hours. Here’s what you need to know.

Autodesk beat analysts’ revenue expectations by 1.3% last quarter, reporting revenues of $1.42 billion, up 11.7% year on year. It was a weaker quarter for the company, with a miss of analysts’ billings estimates.

Is Autodesk a buy or sell going into earnings? Read our full analysis here, it’s free.

This quarter, analysts are expecting Autodesk’s revenue to grow 10.2% year on year to $1.48 billion, improving from the 8.7% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $2.00 per share.

The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Autodesk has only missed Wall Street’s revenue estimates once over the last two years, exceeding top-line expectations by 1.1% on average.

Looking at Autodesk’s peers in the design software segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Cadence delivered year-on-year revenue growth of 8.6%, beating analysts’ expectations by 1.7%, and Procore reported revenues up 24.4%, topping estimates by 3.3%. Cadence traded down 1.6% following the results while Procore was also down 15.5%.

Read our full analysis of Cadence’s results here and Procore’s results here.

Investors in the design software segment have had steady hands going into earnings, with share prices flat over the last month. Autodesk is up 5.2% during the same time and is heading into earnings with an average analyst price target of $274 (compared to the current share price of $256).

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