Autodesk Stock Price, News & Analysis

Autodesk, Inc. (Nasdaq: ADSK) announces the departure of CFO Scott Herren, effective mid-December, as he takes on a new role at Cisco. Herren, who has been with Autodesk for over six years, played a vital role in transitioning the company to a successful SaaS business model. Autodesk is currently searching for a new CFO and expects Q3 fiscal 2021 results to exceed guidance. The company remains optimistic about its fiscal 2023 goals and growth potential in various sectors, despite potential risks highlighted in a safe harbor statement.

Autodesk will broadcast its third quarter fiscal 2021 financial results conference call on November 24, 2020, at 2:00 p.m. Pacific Time. The conference call will be available via their investor website, with an audio replay accessible after 5:00 p.m. PT. This engagement highlights Autodesk's commitment to transparency and investor communication, allowing stakeholders to stay updated on financial performance and corporate developments.

Autodesk (ADSK) announced the international expansion of BuildingConnected, a construction management solution, into the UK, Ireland, Australia, and New Zealand. This platform streamlines the bidding process with a network of over one million construction professionals. Currently, more than 2,000 general contractors actively manage projects valued at $56 billion monthly in North America alone. The expansion aims to increase productivity and reduce project risks for global construction teams, enhancing communication and collaboration throughout the tendering process.

Autodesk announced the launch of a new model coordination workflow between its products Navisworks and BIM 360 Model Coordination, enhancing its Construction Cloud. This integration allows for improved management of clash detection and issues tracking in a common data environment, benefiting construction teams by saving time, reducing risks, and minimizing rework. Users can now automate clash detection and facilitate real-time issue assignment, leading to better construction document quality.

Autodesk, Inc. (NASDAQ: ADSK) announced its participation in the Citi's 2020 Global Technology Conference on September 9, 2020. The conference will be held virtually, with a live webcast available for investors on Autodesk's Investor Relations Website. Interested participants should log on 15 minutes early to prepare. For inquiries, Autodesk's Investor Relations can be contacted at 415-507-6373.

Autodesk specializes in software solutions that empower creators across various industries.

Autodesk reported strong second-quarter fiscal 2021 results, with total revenue increasing by 15% year-over-year to $913 million. GAAP operating margin rose to 16%, while non-GAAP operating margin climbed to 29%. GAAP diluted EPS was $0.44, and non-GAAP diluted EPS reached $0.98. However, total billings fell 12% to $787 million. Recurring revenue constituted 98% of total revenue. Despite challenges, the company demonstrated resilience and adaptability, driven by strong cloud-based solutions and healthy renewal rates.

Autodesk has successfully acquired Pype, enhancing its Autodesk Construction Cloud suite with Pype's cloud-based software solutions. This acquisition, effective during Autodesk's FY 2021 Q3, focuses on automating workflows for the construction industry, particularly in project closeout and submittals. Pype's AI-driven offerings promise improved productivity and risk management. This marks Autodesk's fourth acquisition in construction, following Assemble, PlanGrid, and BuildingConnected, reinforcing their commitment to innovation in construction project management.

Autodesk has announced a conference call to discuss its second quarter fiscal 2021 financial results, scheduled for August 25, 2020, at 2:00 p.m. PT. The call will be broadcast live on Autodesk's investor relations website, with an audio replay available thereafter. This event presents an opportunity for investors to gain insights into Autodesk's financial performance and future outlook. For inquiries, Autodesk's Investor Relations can be contacted at 415-507-6373.

Autodesk, Inc. (NASDAQ: ADSK) has announced the acquisition of Pype, a cloud-based construction project management software provider. This acquisition aims to enhance Autodesk Construction Cloud by automating workflows related to submittals and project closeouts, ultimately boosting productivity and minimizing risk. Pype's technology utilizes AI to reduce manual data entry errors and streamline processes. Autodesk's CEO emphasizes the strategic importance of this acquisition for improving collaboration and resilience in the construction industry. The transaction is expected to close in Autodesk's third fiscal quarter of 2021.