Autodesk Revenues Slide But AEC Segment Pops
Autodesk (ADSK) announced second quarter revenue yesterday. The publicly traded company is often a bellwether for the global economy's appetite for infrastructure projects. "Our second quarter was marked by strength in our Architecture, Engineering and Construction (AEC) business segment and continued growth in suites," said Carl Bass, Autodesk president and CEO. Revenue from AEC popped 9% to $177 Million compared to the second quarter last year. The company is going through a shift to more flexible licensing plans and a move to more cloud-based solutions.
The reports seems somewhat in contrast to news from China and India where economic reports indicate a slowdown in growth for those countries. Autodesk reported that revenue in its Europe, Middle East and Africa (EMEA) sector declined by only 1% to $158 Million over last year's second quarter and increased 4% on a constant currency basis.
Revenue from flagship products decreased 11% to $289 million compared to the second quarter last year. Taken together, this is a rather mixed bag for Autodesk given that its core AutoCAD product declined in sales but vertical markets in AEC saw improvement.