Autodesk, Inc. · ADSK · FY2025 Q2 · Calendar Q3 2024

Autodesk raises guidance as transaction-model rollout progresses

The evidence supports a constructive but conditional view: resilient subscription demand, double-digit AEC and Manufacturing growth, and progress on the transaction model support Autodesk's growth trajectory. The thesis depends on executing the rollout, translating it into efficiency and margin improvement, and managing macro and regional headwinds.

Reported After market closeNASDAQTechnology $52.71B market cap
100quality score

Earnings scorecard

Reported versus consensus
Reported EPS $2.15 Consensus $2.00
EPS surprise +7.5% Reported versus consensus
Reported revenue $1.50B Consensus $1.48B
Revenue surprise +1.2% Reported versus consensus

Market reaction

event-close to next-session close
Stock move +0.1% Event window
SPY move +1.0% Same window
Abnormal move -0.9% Stock minus SPY
Volume 3.2× Versus trailing sessions
Subsequent drift +6.6% Up to 20 sessions
ADSKSPY benchmark

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Transcript intelligence

What changed

Compared with the prior-quarter analysis, guidance sentiment moved from maintained to raised. The transaction model advanced from a planned North American rollout to a launched North American rollout with further international expansion planned; Payapps also contributed to sequential Make-business growth.

Guidance delta

Management raised full-year revenue, billings and EPS guidance; the analysis characterizes guidance sentiment as raised.

Key takeaways

  • Revenue grew 13% year over year, while full-year revenue, billings and EPS guidance were raised.
  • AEC and Manufacturing delivered double-digit growth, with construction wins and Fusion 360 adoption highlighted.
  • The transaction model is progressing, with management expecting improved sales-and-marketing efficiency and margins over time.
  • Free cash flow was $203 million, and management discussed continued share repurchases.
  • Macro, geopolitical and industry-specific headwinds remain, including softness in China and Korea and Hollywood strikes affecting Media and Entertainment.

Management priorities

  • Complete the global rollout of the new transaction model, including Western Europe and Japan.
  • Integrate Payapps further into the Make portfolio.
  • Continue AI and cloud platform investment and expand the Autodesk Marketplace ecosystem.
  • Maintain disciplined capital allocation while hiring a permanent CFO.

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Earnings History

Estimate Beat Miss Match
ADSK REVENUE earnings history estimate and actual scatter chart 9 reported fiscal quarters and 2 future estimate-only quarters. Q4 '24 estimate $1B Q4 '24 actual $1B, beat Q1 '25 estimate $1B Q1 '25 actual $1B, beat Q2 '25 estimate $1B Q2 '25 actual $2B, beat Q2 '26 estimate $2B Q2 '26 actual $2B, beat Q3 '26 estimate $2B Q3 '26 actual $2B, beat Q4 '26 estimate $2B Q4 '26 actual $2B, beat Q1 '27 estimate $2B Q1 '27 actual $2B, beat Q2 '27 estimate $2B Q2 '27 actual $2B, beat Q3 '27 estimate $2B Q4 '27 estimate $2B
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Analyst Consensus ?

ConsensusBuy51 ratings
Bullish3874.5%
Neutral917.7%
Bearish47.8%

Analyst 52W Price Targets

$252.2Current
$215Low
$319.37Average
$440High

Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 24, 2026. Not an FN2 forecast.

Firm-level rating actions

FMP grade actions identify the grading firm, not a named analyst.

FirmRatingPrior ratingActionDate
Piper Sandler Overweight OverweightMaintainSep 28, 2026
Guggenheim Buy BuyMaintainSep 21, 2026
BTIG Buy BuyMaintainSep 18, 2026
RBC Capital Outperform OutperformMaintainSep 17, 2026
Argus Research Buy BuyMaintainSep 2, 2026
Show 46 more rating actions

Named analyst price targets

Upside is calculated against the persisted current price $252.2. FMP does not supply a rating on these named-analyst rows.

FirmAnalyst52W targetPrice when postedUpsideDate
Piper SandlerBilly Fitzsimmons$300$209.4 +19.0%Sep 28, 2026
Goldman SachsMatthew Martino$265$220.31 +5.1%Sep 17, 2026
Cantor FitzgeraldAnalyst unavailable$215$228.93 -14.8%Sep 14, 2026
Berenberg BankNay Soe Naing$333$258.53 +32.0%Sep 1, 2026
Rosenblatt SecuritiesBlair Abernethy$330$260.66 +30.8%Aug 31, 2026
See 117 more

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Company context

Snapshot as of publication

Autodesk, Inc. delivers advanced software and services for 3D design, engineering, and entertainment to a global clientele. Their diverse product line includes AutoCAD Civil 3D, a comprehensive solution for civil engineering tasks such as land development, transportation infrastructure, and environmental projects. For construction project management, they offer BIM 360, a cloud-based platform. Core design and drafting needs are met by AutoCAD and its specialized counterpart, AutoCAD LT. The company also provides CAM software, essential for computer numeric control (CNC) machining, inspection, and manufacturing modeling, alongside Fusion 360, an integrated platform for 3D CAD, CAM, and computer-aided engineering.…

Historical context

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Latest beats and misses

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Sources

  1. Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
  2. FN2 earnings calendar · 2024-10-17T05:10:49.140638+00:00
  3. Polygon adjusted daily market bars · 2026-10-24T21:00:40.545042+00:00
  4. Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-24T21:00:40.542142+00:00

Methodology

Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.

Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.

Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.

By FN2 Research · Updated · As of 2026-10-24. For educational purposes only; not investment advice.