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AUTODESK, INC. ANNOUNCES FISCAL 2024 SECOND QUARTER RESULTS
SAN FRANCISCO, August 23, 2023 /PRNewswire/ — Autodesk, Inc. (NASDAQ: ADSK) today announced its financial results for the second quarter of fiscal 2024. The company showed solid progress across several key areas, demonstrating its continued leadership in the design and engineering industry.
For the quarter, total revenue reached $1.345 billion, representing a 9% increase year-over-year. On a constant currency basis, revenue growth was even stronger at 12%. Additionally, the company reported a strong performance in terms of profitability, with non-GAAP operating margins remaining stable at 36%.
"Our second-quarter results reflect our ongoing commitment to innovation and customer satisfaction," said Andrew Anagnost, President and CEO of Autodesk. "We’re excited about the advancements we’re making in AI-driven design solutions, which we believe will empower our customers to achieve greater efficiency and creativity."
Debbie Clifford, Autodesk's CFO, highlighted the company's positive trajectory: "Our financial performance this quarter reflects strong execution and momentum in our core businesses. This has led us to raise the lower end of our guidance for the full fiscal year, reflecting confidence in our ability to deliver consistent value to our shareholders."
The company also provided a detailed breakdown of its revenue by geographic region and product family. In the Americas, total revenue rose to $589 million, showing a 14% increase year-over-year. Europe, Middle East, and Africa (EMEA) contributed $506 million, marking a 7% year-over-year growth. Asia-Pacific (APAC) saw a modest increase of 1%, reaching $250 million.
Looking ahead, Autodesk remains optimistic about its prospects. For the third quarter ending October 31, 2023, the company expects revenue to be in the range of $1.380 billion to $1.395 billion, with non-GAAP earnings per diluted share estimated between $1.97 and $2.03. For the full fiscal year 2024, Autodesk anticipates revenue growth of 8% to 9%, with non-GAAP earnings per diluted share ranging from $7.30 to $7.49.
In addition to its financial performance, Autodesk continues to invest heavily in research and development, particularly in areas like AI and cloud-based solutions. The company believes these investments will position it strongly for future growth opportunities.
"As we look to the future, we remain focused on delivering cutting-edge technologies that address the evolving needs of our customers," Anagnost added. "We are confident that our strategic initiatives will drive sustainable growth and create long-term value for our stakeholders."
Autodesk's second-quarter earnings call is scheduled for today at 5 p.m. ET. Investors can access the live webcast via the company’s investor relations website at [autodesk.com/investor](http://autodesk.com/investor). A replay of the call will be available shortly after the conclusion of the event.
This press release includes forward-looking statements based on current expectations and assumptions. These statements are subject to risks and uncertainties, including those outlined in the "Safe Harbor Statement" section of the release. For more information on these risks, investors are encouraged to review the company’s latest filings with the U.S. Securities and Exchange Commission.
About Autodesk:
Autodesk is transforming how the world designs and makes things. By empowering innovators with advanced software solutions, the company is driving progress across industries such as architecture, engineering, construction, manufacturing, and media and entertainment. To learn more, visit [autodesk.com](http://autodesk.com) or follow @autodesk on social media. #MakeAnything
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**Note:** The figures mentioned in this press release are unaudited and subject to finalization. Readers are advised to consult the official financial statements for complete details.