Autodesk’s quarterly revenue rises 8% on higher customer signups

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Design software maker Autodesk Inc posted an 8 per cent increase in first-quarter revenue on Thursday as customer signups rose.

The company, whose AutoCAD software is used by construction, engineering and manufacturing companies, said its subscription plan sales surged 10 per cent during the quarter.

Its portfolio, which also includes software Revit and Fusion 360, caters to diverse end-market customers.

The company forecast second-quarter revenue between $1.32 billion and $1.33 billion. Analysts expected $1.33 billion, according to Refinitiv data.

Autodesk now expects its annual per-share profit to be between $7.07 and $7.41, compared with $6.98 to $7.32 projected earlier.

Revenue and adjusted profit for the quarter ended April 30 were $1.27 billion and $1.55 per share, respectively, both in line with analysts’ expectations.

Shares of the San Francisco, California-based company rose marginally after the bell. The stock has gained nearly 6 per cent so far this year.

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