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Autodesk Q2 Earnings & Revenues Surpass Estimates, Both Rise Y/Y

By Zacks Equity Research | August 29, 2025, 10:28 AM

Autodesk ADSK reported second-quarter fiscal 2026 non-GAAP earnings of $2.62 per share, which beat the Zacks Consensus Estimate by 7.38% and increased 21.9% year over year.

The company reported revenues of $1.76 billion, which beat the consensus mark by 2.17% and grew 17.1% year over year.

Autodesk delivered robust performance this quarter, driven by strength in AECO, higher up-front revenues from Enterprise Business Agreements, and continued momentum in the Autodesk Store. The company remains confident in its outlook, supported by a well-executed go-to-market strategy, robust industry cloud offerings, and a scalable platform ecosystem designed to harness AI effectively.

Q2 Top-Line Details of ADSK

Autodesk’s subscription revenues (94% of total revenues) increased 17.8% year over year to $1.66 billion. Maintenance revenues (0.5% of total revenues) declined 18.2% from the year-ago quarter to $9 million. Other revenues (5.4% of total revenues) increased 11.6% to $96 million in the reported quarter.

Autodesk, Inc. Price, Consensus and EPS Surprise

Autodesk, Inc. Price, Consensus and EPS Surprise

Autodesk, Inc. price-consensus-eps-surprise-chart | Autodesk, Inc. Quote

Region-wise, revenues from the Americas (44.6% of revenues) increased 18.7% from the year-ago quarter’s levels to $786 million. Revenues from the EMEA, which accounted for 38.3% of revenues, climbed 18.4% to $675 million. Revenues from the Asia-Pacific (17.1% of revenues) increased 10.6% to $302 million.

Billings of $1.68 billion increased 36% year over year in the reported quarter.

Product Line Details of ADSK

Autodesk offers primarily four product families: Architecture, Engineering, Construction and Operations (AECO), AutoCAD and AutoCAD LT, Manufacturing (MFG) and Media and Entertainment (M&E).

AECO (49.8% of revenues) revenues increased 23.1% year over year to $878 million.

AutoCAD and AutoCAD LT (25% of revenues) revenues rose 13.1% to $440 million.
 
MFG (18.9% of revenues) revenues increased 12.8% to $334 million.
 
M&E (4.5% of revenues) revenues increased 3.9% to $80 million.

Operating Results of ADSK

Non-GAAP operating expenses increased 14.4% year over year to $959 million in the reported quarter.

Autodesk reported a non-GAAP operating margin of 38.6%, which contracted 140 basis points year over year.

ADSK’s Balance Sheet & Cash Flow

As of July 31, 2025, Autodesk had cash and cash equivalents (including marketable securities) of $2.24 billion compared with $2.04 billion as of April 30, 2025.

Deferred revenues increased 4% to $3.84 billion. Unbilled deferred revenues were $3.45 billion, indicating an increase of 59% year over year.

Remaining performance obligations (RPO) rose 24% to $7.3 billion. The current RPO increased 20% to $4.68 billion.

Cash flow from operating activities was $460 million, suggesting an increase of 117% year over year. Free cash flow was $451 million, indicating a rise of 122%.

In the reported quarter, ADSK purchased approximately 1.2 million shares for $356 million at an average price of approximately $298 per share.

ADSK Initiates Q3 & Raises FY26 Guidance

Autodesk projects third-quarter fiscal 2026 revenues between $1.80 billion and $1.81 billion.
 
Non-GAAP earnings per share are expected to be between $2.48 and $2.51.

For fiscal 2026, Autodesk expects revenues between $7.03 billion and $7.08 billion compared with its earlier guidance of $5.99 billion to $6.09 billion. Billings are now estimated to be in the $7.36-$7.45 billion range, up from the prior outlook of $5.81-$5.96 billion.

Non-GAAP earnings are anticipated in the range of $9.80-$9.98 per share, versus the previous guidance of $7.99-$8.21. The company also raised its non-GAAP operating margin expectation to approximately 37%, from the prior range of 35-36%.

Free cash flow is anticipated in the $2.20-$2.28 billion band.

ADSK’s Zacks Rank & Stocks to Consider

Currently, ADSK carries a Zacks Rank #3 (Hold).

Amphenol APH, Microchip Technology MU and Reddit Inc. RDDT are some better-ranked stocks that investors can consider in the broader Zacks Computer and Technology sector. APH, MU and RDDT sport a Zacks Rank #1 (Strong Buy) each at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

APH shares have surged 61.2% in the year-to-date period. The Zacks Consensus Estimate for APH’s full-year 2025 earnings is pegged at $3.02 per share, up by 4 cents over the past 30 days, suggesting growth of 41.53% from the year-ago quarter’s reported figure.

MU shares have gained 44.6% year to date. The Zacks Consensus Estimate for MU’s full-year fiscal 2025 earnings has been revised upward to $8.04 in the past 30 days, suggesting year-over-year growth of 518.46%.

RDDT shares have appreciated 37.9% year to date. The Zacks Consensus Estimate for RDDT’s full-year 2025 earnings is pegged at $1.81 per share, revised upward over the past 30 days and implying a rise of 154.35% from the year-ago quarter’s levels.

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Amphenol Corporation (APH): Free Stock Analysis Report
 
Micron Technology, Inc. (MU): Free Stock Analysis Report
 
Autodesk, Inc. (ADSK): Free Stock Analysis Report
 
Reddit Inc. (RDDT): Free Stock Analysis Report

This article originally published on Zacks Investment Research (zacks.com).

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