Countdown to Autodesk (ADSK) Q2 Earnings: Wall Street Forecasts for Key Metrics
Analysts on Wall Street project that Autodesk (ADSK) will announce quarterly earnings of $3.12 per share in its forthcoming report, representing an increase of 19.1% year over year. Revenues are projected to reach $2.01 billion, increasing 14% from the same quarter last year.
Over the past 30 days, the consensus EPS estimate for the quarter has remained unchanged. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.
Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.
With that in mind, let's delve into the average projections of some Autodesk metrics that are commonly tracked and projected by analysts on Wall Street.
Analysts' assessment points toward 'Net Revenue- Other' reaching $102.16 million. The estimate indicates a year-over-year change of +6.4%.
The consensus among analysts is that 'Net Revenue- Subscription' will reach $1.90 billion. The estimate suggests a change of +14.8% year over year.
Analysts predict that the 'Net Revenue by Product Family- M&E (Media and Entertainment)' will reach $97.88 million. The estimate indicates a change of +22.4% from the prior-year quarter.
Based on the collective assessment of analysts, 'Net Revenue by Product Family- AECO (Architecture, Engineering, Construction and Operations)' should arrive at $1.01 billion. The estimate suggests a change of +15.2% year over year.
According to the collective judgment of analysts, 'Net Revenue by Product Family- Other' should come in at $39.15 million. The estimate indicates a change of +26.3% from the prior-year quarter.
The consensus estimate for 'Net Revenue by Product Family- AutoCAD and AutoCAD LT' stands at $482.06 million. The estimate indicates a change of +9.6% from the prior-year quarter.
It is projected by analysts that the 'Net Revenue by Product Family- MFG (Manufacturing)' will reach $375.32 million. The estimate points to a change of +12.4% from the year-ago quarter.
Analysts forecast 'Billings' to reach $1.77 billion. The estimate compares to the year-ago value of $1.68 billion.
View all Key Company Metrics for Autodesk here>>>Shares of Autodesk have experienced a change of +21% in the past month compared to the +2.3% move of the Zacks S&P 500 composite. With a Zacks Rank #3 (Hold), ADSK is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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This article originally published on Zacks Investment Research (zacks.com).
