EarningsQ2 2027 Earnings Report
MX:ADSK Q2 2027 EPS Results
Actual EPS$59.93
Consensus EPS$56.74
Beat/MissBeat by +$3.20
One Year Ago EPS$47.58
MX:ADSK Q2 2027 Revenue Results
Actual Revenue$37.29B
Expected Revenue$36.54B
Beat/MissBeat by +$744.31M
YoY Revenue Growth+16.78%
Earnings Announcement Details
QuarterQ2 2027
Date08/27/2026
TimeAfter Close
Conference CallThursday, August 27, 2026
MX:ADSK Upcoming Earnings
Autodesk's next earnings date is estimated for November 24, 2026, based on past reporting schedules.
Q2 2027 Earnings Call Audio
MX:ADSK Q2 2027 Earnings Call
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Q2 2027 Earnings Slide Deck
Q2 2027 Earnings Call Summary
Earnings Call Sentiment|Positive
The call was broadly positive: the company delivered stronger‑than‑expected Q2 results (revenue +16% reported, billings +10% reported), raised full‑year billings and revenue guidance, showed margin expansion and healthy free cash flow, and closed a strategic MaintainX acquisition that extends Autodesk into operations and strengthens its AI/data strategy. Offsetting factors include sales reorganization impacts in Western Europe, near‑term margin dilution and integration costs from MaintainX (an unprofitable, high‑growth asset), temporary revenue timing effects from reduced multiyear discounts, and some currency/transactional mix headwinds. Management emphasized discipline, continued buybacks, and long‑term margin targets, and reiterated confidence in underlying demand (notably construction and Fusion). Overall, positive operational momentum and strategic positioning outweigh the near‑term integration and mix headwinds.Company Guidance
Revenue Growth Above Guidance
Total revenue grew 16% year‑over‑year as reported and 14% in constant currency in Q2, with revenue and EPS coming in above the high end of guidance. Management noted ~2 percentage points of tailwind to Q2 revenue from the new transaction model and ~1.5 percentage points tailwind expected for the full year.
Billings Increase and Raised Billings Guidance
Billings rose 10% as reported and 12% in constant currency in Q2. Fiscal '27 billings guidance was raised to $8.575B–$8.65B. Management said underlying billings outlook improved by ~2 percentage points (approximately +1pp from MaintainX contribution of ~$70M billings in H2 and ~1pp from stronger organic performance), netting to a roughly +1pp improvement after offsetting currency/transactional mix.
Margin Expansion and Operating Leverage
Q2 GAAP operating margin was 29% (up ~4 percentage points year‑over‑year) and non‑GAAP operating margin was 41% (up ~2 percentage points). Company reiterated fiscal '27 non‑GAAP margin guidance and expects modest non‑GAAP margin improvement in fiscal '28 with a target of 41% non‑GAAP operating margin in fiscal '29.
Strong Free Cash Flow and Active Capital Allocation
Q2 free cash flow was $561 million. Fiscal '27 free cash flow expectation narrowed to $2.725B–$2.75B. The company repurchased ~2.1 million shares for $453 million in the quarter and plans to apply ~50% of free cash flow to buybacks over time.
Strategic MaintainX Acquisition Extends into Operations
MaintainX acquisition closed August 3. Management expects MaintainX to contribute approximately $60 million to H2 fiscal '27 revenue and ~$70 million to H2 billings, and to extend Autodesk's digital thread into day‑to‑day operational workflows and asset lifecycle data, creating cross‑sell and enterprise account opportunities.
Robust Construction and Fusion Momentum
Construction business continues to perform strongly (management noted growth north of 20%). Fusion (Product Design & Manufacturing) showed robust user growth, multi‑seat adoption and appears to be benefiting from AI features and ecosystem integrations—cited as a clear tailwind to growth.
Improved Price Realization and Lower Stock‑Based Compensation
Company is reducing multiyear discounts (including winding down Maintenance‑to‑Subscription multiyear renewals) to benefit long‑term price realization. Stock‑based compensation is expected to be ~9% of revenue in fiscal '27, down from ~11% in fiscal '26.
Progress on AI Platform and Enterprise Wins
Management highlighted enterprise wins (large retailer selecting Forma + Tandem digital twin) and outlined an AI strategy combining Autodesk models (e.g., NeuralCAD), third‑party models and rich lifecycle context—positioned as a differentiator to drive future workflow and consumptive AI revenue.
MX:ADSK Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed