Autodesk (ADSK) Q2 Earnings Report Preview: What To Look For

Adam Hejl /
2022/08/23 4:19 am EDT
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Design software company Autodesk (NASDAQ:ADSK) will be reporting earnings tomorrow after market close. Here's what to expect.

Last quarter Autodesk reported revenues of $1.17 billion, up 18.2% year on year, beating analyst revenue expectations by 2.06%. It was a mixed quarter for the company, with a decent beat of analyst estimates but a full year guidance missing analysts' expectations.

Is Autodesk buy or sell heading into the earnings? Read our full analysis here, it's free.

This quarter analysts are expecting Autodesk's revenue to grow 15.5% year on year to $1.22 billion, in line with the 16% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.57 per share.

Autodesk Total Revenue

The analysts covering the company have had mixed opinions about the business heading into the earnings, with revenue estimates seeing two upward and two downward revisions over the last thirty days. The company has a history of exceeding Wall St's expectations, beating revenue estimates every single time over the past two years on average by 1.53%.

Looking at Autodesk's peers in the vertical software segment, some of them have already reported Q2 earnings results, giving us a hint of what we can expect. Unity delivered top-line growth of 8.58% year on year, missing analyst estimates by 0.67% and Toast reported revenues up 58.9% year on year, exceeding estimates by 4.22%. Unity traded down 2.67% on the results, and Toast was up 10.6%. Read our full analysis of Unity's results here and Toast's results here.

There has been positive sentiment among investors in the software segment, with the stocks up on average 4.62% over the last month. Autodesk is up 11.8% during the same time, and is heading into the earnings with analyst price target of $253, compared to share price of $218.86.

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The author has no position in any of the stocks mentioned.