On Thursday, Autodesk announced a bullish forecast for its annual revenue and profit, surpassing Wall Street expectations. The surge is attributed to robust demand for its design and engineering software, especially in sectors like construction and manufacturing.
To streamline operations, the company plans to reduce its workforce by approximately 9%, equivalent to about 1,350 employees. Additionally, Autodesk aims to intensify investments in cloud computing and artificial intelligence, reallocating resources to bolster these areas.
Noteworthy is the widespread adoption of Autodesk's 3D design solutions in fields like architecture, engineering, construction, and product design, with the integration of AI and machine learning fueling further expenditure on its products.
In the fourth quarter ended January 31, Autodesk marked a significant 23% increase in total billings, reaching $2.11 billion. Its international operations showcased robust performance, notably outpacing competitors in the manufacturing sector, driven by the success of its 'Fusion' design software.
In response, Autodesk's shares rose roughly 2% in after-hours trading. The company anticipates full-year revenue to range between $6.90 billion and $6.97 billion, surpassing the average analyst estimate of $6.90 billion, as per data compiled by LSEG.
For fiscal year 2026, Autodesk projects an adjusted profit per share between $9.34 and $9.67, exceeding analysts' projected $9.24 per share. In the fourth quarter, the company reported total revenue of $1.64 billion, a 12% increase from the previous year, outperforming the average analyst estimate of $1.63 billion. The adjusted profit per share stood at $2.29, surpassing estimates of $2.14 per share.