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Autodesk raises full-year revenue forecast on strong subscription growth

15
Aug
2014

(Reuters) – Autodesk Inc raised its full-year revenue forecast and reported better-than-expected second-quarter revenue, as more companies and individuals sign up for its computer-aided design software. Autodesk, which is moving to a cloud-based subscription model from a license-based business, forecast revenue growth of 7-9 percent, or $2.43-$2.48 billion, for the year ending January 31, 2015, up from its prior forecast of 4-6 percent growth. Analysts were expecting full-year revenue of $2.40 billion, according to Thomson Reuters I/B/E/S. Autodesk’s flagship AutoCAD software is used by construction, engineering and manufacturing companies to design and simulate real-world performance of their products. Between May and July, Autodesk added about 74,000 subscribers, ending the quarter with about 2 million total subscribers.

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