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Autodesk Inc. (ADSK+0.45%) has submitted its Form 10-Q filing for the quarterly period ended October 31, 2024.
The filing reports a total net revenue increase of 11% to $1.57 billion for the quarter, compared to the same quarter in the previous year. This growth was driven by a 11% increase in subscription revenue.
Recurring revenue as a percentage of net revenue was 97% for the quarter, consistent with the previous year. The net revenue retention rate remained within the range of 100% to 110% on a constant currency basis.
Deferred revenue decreased by 14% to $3.66 billion, while remaining performance obligations were reported at $6.11 billion, unchanged from the previous quarter.
Net income for the quarter was $275 million, with a diluted net income per share of $1.27, compared to $241 million and $1.12 per share in the same quarter of the previous year.
Operating expenses increased by 13% to $1.08 billion, primarily due to higher employee-related costs and sales commissions to Solution Providers.
Autodesk repurchased 1.7 million shares of its common stock for $443 million during the nine months ended October 31, 2024.
The company reported $915 million in net cash provided by operating activities for the nine months ended October 31, 2024, compared to $876 million for the same period in the previous year.
Autodesk continues to face risks related to global economic conditions, competition, and regulatory changes, as detailed in the risk factors section of the filing.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Autodesk Inc. quarterly 10-Q report dated December 3, 2024. To report an error, please email earnings@qz.com.