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- Autodesk, Inc. (NASDAQ: ADSK) reported fourth-quarter FY21 revenue growth of 16% year-on-year to $1.04 billion, exceeding analyst estimates by $30 million. Recurring revenue represented 94% of total revenue.
- Revenue from Design, Make, Subscription plan rose 13%, 28%, 22%, respectively, partially offset by a 62% decline in Maintenance plan revenue. However, total billings declined 1% to $1.47 billion.
- Operating income rose 37.3% to $184 million with a margin improvement of 300 basis points to 18%.
- EPS increased 28.3% to $1.18, above the consensus estimate of $1.07.
- The company generated an operating cash flow of $658 million.
- "Our strong fiscal 2021 results reflect the increasing importance of a cloud-based platform to our customers and the resilience of our subscription business model," said Autodesk CEO Andrew Anagnost. "With a record number of enterprise agreements in the fourth quarter and recently announced intention to acquire Innovyze, we are looking to the future with optimism and remain confident in our fiscal 2023 targets and double-digit growth thereafter," added Anagnost.
- The company expects first-quarter FY22 revenue between $955 million and $970 million, lower than the analyst estimate of $998.1 million. Expected EPS guidance is between $0.91 and $0.96, below the consensus estimate of $1.11.
- Price action: ADSK shares are trading 1.36% higher at $287.9 on the last check Friday.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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