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Autodesk Reiterates Q1, FY20 Outlook - Quick Facts

Autodesk, Inc. (ADSK) on Thursday reaffirmed its business outlook for the first quarter and fiscal 2020 in conjunction with its Investor Day, being held today at the Autodesk Gallery in San Francisco.

The company noted that Andrew Anagnost, President and CEO, will be joined by several members of the Autodesk leadership team to review its core markets and products, new cloud-based opportunities in construction and manufacturing, recurring business model, and strategic initiatives to drive sustainable long-term growth in annualized recurring revenue and free cash flow.

"The strong momentum we experienced exiting fiscal 2019 provided us with a great deal of confidence going into fiscal 2020. With the business model transition effectively behind us, we're looking forward to providing the investment community with additional details on how we will fuel sustainable growth in our fiscal 2020 and beyond," said Anagnost.

For the first quarter, Autodesk reiterated its outlook for reported earnings of $0.06 to $0.10 per share, adjusted earnings of $0.44 to $0.48 per share, and revenue in a range of $735 million to $745 million.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $0.47 per share for the quarter on revenues of $740.08 million. Analysts' estimates typically exclude special items.

For fiscal 2020, Autodesk reaffirmed its outlook for reported earnings of $1.12 to $1.31 per share, adjusted earnings of $2.71 to $2.90 per share, and revenue in a range of $3.250 billion to $3.300 billion.

The Street expects earnings of $2.87 per share for the year on revenues of $3.29 billion.

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