Autodesk Inc. (ADSK) Stock: Q2 2026 Earnings and Guidance Boost

TLDR

Autodesk (ADSK) reported Q2 2026 revenue of $1.763B, up 17% year over year. GAAP EPS rose to $1.46 from $1.30; adjusted EPS hit $2.62. Billings surged 36% with strong contributions from a new transaction model. Full-year revenue guidance raised to $7.025B–$7.075B; free cash flow outlook also lifted. Shares closed at $288.49 (+0.89%), with pre-market trading up 11.6% to $322.00.

Autodesk Inc. (NASDAQ: ADSK) closed at $288.49 on August 28, 2025, up 0.89%, before surging 11.62% to $322.00 in pre-market trading following its fiscal second-quarter 2026 earnings release.

Autodesk Inc

The company posted strong growth across revenue, earnings, and billings, with results exceeding the higher end of its guidance ranges.

Revenue Growth and Earnings Performance

For the quarter ended July 31, 2025, Autodesk reported revenue of $1.763 billion, a 17% increase from $1.505 billion a year ago. GAAP earnings rose to $313 million, or $1.46 per share, compared to $282 million, or $1.30 per share, last year. On an adjusted basis, EPS reached $2.62, surpassing analyst expectations.

Billings grew 36% as reported, benefiting from the company’s new transaction model, which contributed $105 million to revenue and $129 million to billings during the quarter.

Operational and Financial Highlights

Autodesk achieved GAAP and non-GAAP operating margins of 25% and 39%, reflecting year-over-year increases of 240 and 140 basis points. Free cash flow came in at $451 million, supported by stronger-than-expected upfront revenue and Autodesk Store momentum.

Remaining performance obligations (RPO) totaled $7.3 billion, up 24% year over year, with current RPO at $4.7 billion, a 20% increase. The company repurchased approximately 1.2 million shares for $356 million at an average price of $298.

Raised Guidance for Fiscal 2026

Reflecting strong first-half performance, Autodesk raised its full-year revenue guidance to a range of $7.025 billion to $7.075 billion. Non-GAAP operating margin guidance was raised to 37%, while free cash flow guidance increased by $88 million at the midpoint to between $2.2 billion and $2.275 billion. The company also expanded its share repurchase target to between $1.2 billion and $1.3 billion.

For the next quarter, Autodesk projects revenue of $1.80 billion to $1.81 billion and EPS of $2.48 to $2.51. Full-year EPS guidance is now $9.80 to $9.98.

Strategic Focus on AI and Cloud Growth

CEO Andrew Anagnost highlighted Autodesk’s investments in AI, platform ecosystems, and industry-specific foundation models. He emphasized that innovations in BIM, generative design, and cloud-based workflows are central to driving long-term growth. CFO Janesh Moorjani noted ongoing strength in the AECO sector, fueled by demand in data centers, infrastructure, and industrial buildings.

Market Performance and Outlook

Despite recent volatility, Autodesk shares are up 13.3% over the past year but down 2.4% year to date, lagging the S&P 500’s 10.6% gain. Over three years, ADSK has returned 38.9%, though its five-year return of 16.6% trails the benchmark’s 85.3%.

While Autodesk acknowledged macroeconomic uncertainties and operational friction from its new transaction model, the company remains confident in its ability to scale AI adoption and sustain revenue growth.

 

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