SAN FRANCISCO, August 28, 2026, 09:10 EDT
- Autodesk stock dropped 4.1%, reaching $259.50 ahead of Friday’s market open.
- Revenue for the quarter increased by 16% to $2.046 billion, while free cash flow was up 24%.
- Adjusted EPS guidance for the third quarter was set at $3.04–$3.09, coming in below the consensus estimate of $3.14.
- The drop in premarket trading wiped out approximately $2.34 billion in implied equity value.
Autodesk, Inc. (NASDAQ: ADSK) dropped 4.1% after reporting a robust quarter but issuing a weaker short-term profit outlook. Shares changed hands at $259.50 as of 07:15 EDT on Friday.
An $11.08 drop in premarket trading erased roughly $2.34 billion in implied market capitalization, based on 211 million shares in circulation. Premarket trading saw a light volume of 4,060 shares MarketWatch quote.
Autodesk posted adjusted earnings of $3.30 per share, beating Wall Street’s forecast of $3.12. Revenue was $2.046 billion, topping the consensus estimate of $2.01 billion Barron’s earnings comparison.
Management forecast third-quarter adjusted earnings between $3.04 and $3.09. Analysts’ consensus was $3.14. Revenue guidance was set at $2.125 billion to $2.140 billion, above the estimated $2.08 billion.
The discrepancy is significant. Investors were given an improved sales forecast, but that did not translate into higher short-term earnings. The $3.6 billion MaintainX purchase by Autodesk brings additional operating and financing expenses.
| Product family | Q2 FY2027 revenue | Year-over-year growth |
|---|---|---|
| AECO | $1.029 billion | 17% |
| AutoCAD and AutoCAD LT | $500 million | 14% |
| Manufacturing | $385 million | 15% |
| Media and Entertainment | $92 million | 15% |
Operational performance was robust. Billings rose 10% to $1.854 billion. The GAAP operating margin grew by four points, reaching 29% company results.
Free cash flow increased by 24% to $561 million. Autodesk bought back 2.1 million shares for $453 million. The repurchases represented approximately 81% of its free cash flow for the quarter.
Current remaining performance obligations increased by 12% to $5.245 billion. Total RPO saw a modest rise of 2% to $7.433 billion. Unbilled deferred revenue fell 8% as Autodesk scaled back multi-year discounts.
The company raised its full-year revenue outlook to a range of $8.295 billion to $8.345 billion. Adjusted earnings per share are projected between $12.52 and $12.60. The free-cash-flow forecast was tightened to $2.725 billion to $2.750 billion.
The cash-flow outlook factors in about $45 million in MaintainX-related transaction expenses. Chief Financial Officer Janesh Moorjani noted that core projections rose. Some of those gains were partially offset by acquisition-related costs opening commentary.
The consensus among analysts remained “Moderate Buy,” with an average price target of $322.97. This suggests a potential upside of about 24% from the early premarket level. The ratings consisted of 24 buy recommendations and six holds MarketBeat.
Risks: The integration of MaintainX may put pressure on margins for a longer period than expected. A deceleration in RPO growth could also impact future visibility. However, solid AECO demand, improved pricing, or quicker adoption of AI technology have the potential to counter these challenges.
