Autodesk Inc
Q2 2027 Earnings
Market Reaction
Did ADSK Beat Earnings? Q2 2027 Results
Autodesk posted a clean beat across the board in fiscal Q2 2027, extending its streak of exceeding Wall Street EPS estimates to five consecutive quarters as the design and construction software giant reported adjusted EPS of $3.30, ahead of the $3.12 consensus by 5.64%, while revenue of $2.05 billion grew 16.1% year over year and topped estimates of $2.01 billion. The outperformance was broad-based, with the AECO segment, Autodesk's largest product family, climbing 17% to $1.03 billion and EMEA leading geographic growth at 19% to $804.00 million, reflecting the kind of demand momentum analysts had anticipated heading into the print. Non-GAAP operating margin expanded 2 percentage points to 41%, and free cash flow rose 24% to $561.00 million. Management raised full-year fiscal 2027 revenue guidance to $8.29 to $8.35 billion and lifted billings guidance to $8.57 to $8.65 billion, citing stronger underlying growth expectations and incremental contribution from the pending MaintainX acquisition, while guiding Q3 revenue to $2.13 to $2.14 billion.
- 16% revenue growth driven by broad-based strength across all product families and geographies
- Make segment led growth at 26% year over year
- EMEA was the fastest-growing region at 19%
- Non-GAAP operating margin expanded 2 percentage points to 41%
- Free cash flow grew 24% year over year to $561 million
- Subscription revenue grew to $1,952 million from $1,667 million year over year
“AI turns connected data and context into actionable project intelligence that can ease endemic capacity constraints, raise the bar on what's possible in the physical world, and help our customers do more with scarce resources.”
Autodesk CEO, on the earnings call
Forward Guidance & Outlook
For Q3 FY27 (ending October 31, 2026), Autodesk guided revenue of $2,125–$2,140 million, GAAP EPS of $1.57–$1.87, and non-GAAP EPS of $3.04–$3.09. For full-year FY27 (ending January 31, 2027), the company raised guidance: billings of $8,575–$8,650 million, revenue of $8,295–$8,345 million, GAAP operating margin of 25%–27%, non-GAAP operating margin of ~39%, GAAP EPS of $7.89–$8.72, non-GAAP EPS of $12.52–$12.60, and free cash flow of $2,725–$2,750 million (including ~$45 million of MaintainX transaction expenses and ~$70 million of capital expenditures). Guidance includes MaintainX contributions. Higher underlying growth expectations and MaintainX incremental revenue drove the raised billings and revenue guidance, while non-GAAP margin guidance is unchanged as operating leverage and go-to-market optimization benefits are offset by MaintainX margin dilution.
ADSK YoY Financials
ADSK Revenue by Segment
ADSK Revenue by Geography
Figures from SEC filings and company reports. Not investment advice.