Autodesk Shares Fall Despite Second-Quarter Revenue Beat

Autodesk Inc. reported second-quarter fiscal 2027 revenue of $2.05 billion, a 16% year-over-year increase, with adjusted earnings per share of $3.30. These results exceeded analyst expectations, supported by a 17% increase in subscription growth.

Despite the quarterly beat, shares fell more than 4% in premarket trading on Friday. Investors reacted negatively to the company's full-year adjusted EPS guidance midpoint of $12.56, which fell short of the $12.60 analyst consensus. Additionally, growth in current remaining performance obligations decelerated to 12% as the company removed multi-year discounts, shifting customers toward annual contracts.

CFO Janesh Moorjani noted that the company increased its fiscal 2027 billings and revenue growth guidance to account for higher underlying growth expectations and contributions from MaintainX. Bank of America analysts characterized the results as mixed but reiterated a Buy rating and a $300 price objective, citing durable growth supported by renewals.