Autodesk Guides 3Q Revenue to $2.13B-$2.14B, Above Consensus
ADSK sits 46% above its 52-week low of $185.5.
Summary
Autodesk issued third-quarter revenue guidance of $2.13 billion to $2.14 billion, a range that implies roughly 10% year-over-year growth and sits above the $2.10 billion consensus. The company just closed its $3.575 billion MaintainX acquisition on August 3, and this outlook suggests the integration is tracking ahead of expectations. Autodesk's profit advanced in Q2, with revenue beating estimates and the company raising its guidance on strong software demand, though its profit outlook fell short. With a market cap near $57 billion, the guidance is material enough to shift positioning ahead of the full earnings report. Watch for the official Q3 earnings release, expected in late November, to confirm margin impact from the MaintainX deal.
At the time of this announcement, ADSK was trading at $270.58 on NASDAQ in the Technology sector, with a market capitalization of approximately $57.1B. The 52-week trading range was $185.50 to $329.09. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.