Autodesk 3Q Revenue Rises On Existing Customer Expansions
November 21 2023 - 3:42PM
Dow Jones News
By Ben Glickman
Autodesk's revenue rose in the third quarter as the company was
boosted by expansions from existing clients.
The San Francisco-based design software company posted a profit
of $241 million, or $1.12 a share, in the third quarter, compared
with $198 million, or 91 cents a share, a year earlier. Analysts
polled by FactSet expected per-share earnings of $1.05.
Stripping out certain one-time items, adjusted per-share
earnings came to $2.07, ahead of the $1.99 forecast by analysts,
according to FactSet.
Revenue rose 10% to $1.41 billion, beating the $1.39 billion
expected by analysts polled by FactSet.
The company's total billings fell 11% in the quarter to $1.2
billion.
Chief Financial Officer Debbie Cliffordsaid that market
conditions and the "underlying momentum of the business" was steady
compared to previous quarters. She said results were boosted by
larger-than-expected expansions of existing enterprise
agreements.
Write to Ben Glickman at ben.glickman@wsj.com
(END) Dow Jones Newswires
November 21, 2023 16:27 ET (21:27 GMT)
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