Autodesk will report Q2 results Thursday after the bell. Analysts expect a 14.5% YoY revenue growth to $1.72 billion and adjusted earnings of $2.45 per share. The company has beaten Wall Street's revenue estimates 14 out of the last 16 quarters. PTC and Cadence Design Systems have already reported Q2 results, with PTC up 5.7% and Cadence up 9.8% after their announcements.
Autodesk Inc. (NASDAQ: ADSK) will release its second-quarter (Q2) earnings results on Thursday after the market close. Analysts are projecting a robust performance, with revenue expected to grow 14.5% year-over-year (YoY) to $1.72 billion and adjusted earnings per share (EPS) of $2.45 [1].
The company has consistently beaten Wall Street's revenue estimates in recent quarters. Over the past two years, Autodesk has exceeded analysts' revenue expectations by an average of 1.2% per quarter, with only one miss [1]. This strong track record has analysts optimistic about the company's performance.
Peer companies in the design software segment have already reported their Q2 results. PTC Inc. (NASDAQ: PTC) delivered a 24.2% YoY revenue growth, beating expectations by 10.4%, and Cadence Design Systems Inc. (NASDAQ: CDNS) reported revenues up 20.2%, topping estimates by 1.8% [1]. Both companies saw their share prices rise following their announcements, with PTC up 5.7% and Cadence up 9.8% [1].
Autodesk shares have fallen 6.9% over the past month, in contrast to the S&P 500's 2.7% gain. However, the company remains favored by analysts, with a Zacks Rank of #2 (Buy), indicating expectations for near-term outperformance [2].
Analysts have not revised their EPS estimates over the past 30 days, suggesting they are confident in their initial projections [2]. Additionally, analysts expect Autodesk's net revenue by product family to grow significantly, with the M&E (Media and Entertainment) segment projected to rise by 26.4% YoY [2].
Investors should closely monitor Autodesk's Q2 earnings report for insights into the company's performance and growth prospects.
References:
[1] https://finance.yahoo.com/news/earnings-watch-autodesk-adsk-reports-030340334.html
[2] https://www.nasdaq.com/articles/countdown-autodesk-adsk-q2-earnings-look-estimates-beyond-revenue-and-eps
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