Earnings Review and Free Research Report: Autodesk Reported Better Than Expected Results

Research Desk Line-up: Nutanix Post Earnings Coverage

LONDON, UK / ACCESSWIRE / September 14, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on Autodesk, Inc. (NASDAQ: ADSK), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=ADSK, following the Company’s announcement of its financial results on August 24, 2017, for the second quarter fiscal 2018. The Company’s maintenance and subscription revenue increased 20.7% on a y-o-y basis. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member’s account at:

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Get more of our free earnings reports coverage from other constituents of the Technical & System Software industry. Pro-TD has currently selected Nutanix, Inc. (NASDAQ: NTNX) for due-diligence and potential coverage as the Company announced on August 31, 2017, its financial results for Q4 FY17 and FY17 which ended on July 31, 2017. Register for a free membership today, and be among the early birds that get access to our report on Nutanix when we publish it.

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on ADSK; also brushing on NTNX. With the links below you can directly download the report of your stock of interest free of charge at:

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Earnings Reviewed

For three months ended July 31, 2017, Autodesk’s total net revenue decreased 8.9% to $501.8 million from $550.7 million in Q2 FY17. Total net revenue surpassed analysts’ expectations of $494.8 million.

During Q2 FY18, the Company’s maintenance and subscription revenue increased 20.7% to $457.9 million from $379.3 million in Q2 FY17. For the reported quarter, Autodesk’s license and other revenue decreased 74.4% to $43.9 million from $171.4 million in Q2 FY17. For the reported quarter, the Company’s Annualized Recurring Revenue (ARR) increased 21.2% to $1.83 million from $1.51 million in Q2 FY17.

During Q2 FY18, Autodesk’s gross profit decreased 8.2% to $427.2 million from $465.6 million in Q2 FY17. During Q2 FY18, the Company’s gross margin increased 60 basis points to 85.1% of revenue from 84.5% of revenue in Q2 FY17. For the reported quarter, Autodesk’s adjusted gross profit decreased 9.3% to $435.0 million from $479.7 million in Q2 FY17. During Q2 FY18, the Company’s adjusted gross margin decreased 40 basis points to 86.7% of revenue from 87.1% of revenue in Q2 FY17.

During Q2 FY18, Autodesk’s general and administrative (G&A) expenses increased 13.7% to $78 million from $68.6 million in Q2 FY17. For the reported quarter, the Company’s marketing and selling (M&S) expenses increased 6% to $257.6 million from $243.1 million in Q2 FY17. During Q2 FY18, research and development (R&D) expenses increased 41 basis points to $193.8 million from $193.0 million in Q2 FY17

During Q2 FY18, the Company’s operating loss was $107.6 million compared to operating loss of $62.9 million in Q2 FY17. For the reported quarter, the Company’s adjusted operating loss was $28.8 million compared to adjusted operating income of $25.9 million in Q2 FY17. For the reported quarter, the Company’s interest and other expenses increased 86.1% to $18.8 million from $10.1 million in Q2 FY17.

During Q2 FY18, Autodesk’s net loss was $144.0 million compared to net loss of $98.2 million in Q2 FY17. For the reported quarter, the Company’s adjusted net loss was $25.2 million compared to adjusted net profit of $11.9 million in Q2 FY17. For the reported quarter, the Company’s diluted EPS was negative $0.66 compared to negative diluted EPS of $0.44 in Q2 FY17. During Q2 FY18, Autodesk’s adjusted diluted EPS was negative $0.11 compared to positive $0.05 in Q2 FY17. The adjusted diluted EPS surpassed analysts’ expectations of negative $0.15.

Balance Sheet

As on July 31, 2017, Autodesk’s cash decreased 3.3% to $1.17 billion from $1.21 billion in Q4 FY17. During Q2 FY18, the Company’s net receivables decreased 41.3% to $265.6 million from $452.3 million in Q4 FY17.

During Q2 FY18, the Company’s accounts payable decreased 53 basis points to $93 million from $93.5 million in Q4 FY17. During H1 FY18, Autodesk’s cash provided by operating activities was negative $27.3 million compared to positive $146.4 million in H1 FY17.

Outlook

For Q3 FY17, Autodesk expects revenue to be in the range of $505 million to $515 million and estimates diluted EPS to be in the range of negative $0.64 to negative $0.58 and adjusted diluted EPS to be in the range of negative $0.16 to negative $0.12.

For FY18, Autodesk expects revenue to be in the range of $2.03 billion to $2.05 billion and estimates diluted EPS to be in the band of negative $2.55 to negative $2.44 and adjusted diluted EPS to be in the range of negative $0.61 to negative $0.54.

Stock Performance

On Wednesday, September 13, 2017, the stock closed the trading session at $116.18, slightly up 0.02% from its previous closing price of $116.16. A total volume of 1.45 million shares have exchanged hands. Autodesk’s stock price skyrocketed 9.40% in the last three months, 31.43% in the past six months, and 76.62% in the previous twelve months. Furthermore, since the start of the year, shares of the Company have soared 56.98%. At Wednesday’s closing price, the stock’s net capitalization stands at $25.38 billion.

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