Autodesk Stock Earnings Reports

Autodesk reported a strong fiscal Q2 FY'26: revenue grew 17% reported (18% cc), billings rose ~36% (34% cc), RPO reached $7.3B, and free cash flow was $451M. Results exceeded guidance across revenue, EPS, billings, operating margin and free cash flow, prompting Autodesk to raise full-year guidance: revenue to $7.025–7.075B, billings to $7.355–7.445B, non-GAAP operating margin to ~37% (≈40% underlying, ex new transaction model), and free cash flow to $2.2–2.275B. The company reiterated a long-term margin target of ~41% reported (≈45% underlying) by fiscal 2029, driven primarily by sales & marketing optimization and operating leverage. Key operational notes: the new transaction model materially contributed to Q2 revenue and billings (approx. $105M and $129M respectively), Autodesk Store performance and upfront EBA revenue were stronger than expected, and partner-led new business is showing steady month-over-month improvement as partners cycle through renewals. Growth was led by AEC/Construction (data centers, infrastructure, industrial buildings), with continued momentum in Manufacturing (Fusion) and higher attach rates for extensions. Capital allocation priorities remain: organic R&D (cloud, platform, AI), targeted tuck-in M&A, and an increased buyback plan ($1.2–1.3B target for FY'26, up $100M). Management previewed significant AI and platform updates to be detailed at Autodesk University in September and Investor Day on October 7.