Autodesk (ADSK) Q2 FY2027 earnings: revenue $2.0 billion, up 16.1% on the year

Autodesk, Inc. (ADSK) reported revenue of $2.0 billion for Q2 FY2027, the quarter ended 31 July 2026, up 16.1% on the same quarter a year earlier. Net income was $492 million, up 57.2% on the year, and diluted earnings per share $2.33. The figures are the company's own, from the 10-Q it filed with the SEC on 28 August 2026.

Revenue

$2.0 billion

+16.1% on the year · +5.8% on the quarter

Q3 FY2025Q2 FY2027

Operating margin

29.3%

25.2% a year earlier

Q3 FY2025Q2 FY2027

Net income

$492 million

+57.2% on the year · +0.2% on the quarter

Q3 FY2025Q2 FY2027

Diluted EPS

$2.33

+59.6% on the year · +0.4% on the quarter

Q3 FY2025Q2 FY2027

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 2 raised, 1 lowered, 4 new, 2 kept.

Revenue rose 16 percent: Revenue was $2,046 million, up 16 percent as reported and 14 percent in constant currency, from $1,763 million a year earlier.
Billings and operating income rose: Billings were $1,854 million, up 10 percent. Income from operations was $599 million, against $444 million, with a GAAP operating margin of 29 percent.
Diluted and non-GAAP EPS higher: GAAP diluted EPS was $2.33 against $1.46. Non-GAAP diluted EPS was $3.30, up $0.68. Operating cash flow was $575 million.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q2 FY2027	Q1 FY2027	Q2 FY2026	On the quarter	On the year
Revenue	2,046	1,934	1,763	+5.8%	+16.1%
Cost of revenue	176	175	159	+0.6%	+10.7%
Gross profit	1,870	1,759	1,604	+6.3%	+16.6%
Gross margin	91.4%	91.0%	91.0%
Research and development	464	421	413	+10.2%	+12.3%
Operating income	599	541	444	+10.7%	+34.9%
Operating margin	29.3%	28.0%	25.2%
Interest expense	6.0	21.0	19.0	-71.4%	-68.4%
Pre-tax income	593	599	456	-1.0%	+30.0%
Income tax	101	108	143	-6.5%	-29.4%
Effective tax rate	17.0%	18.0%	31.4%
Net income	492	491	313	+0.2%	+57.2%
Net margin	24.0%	25.4%	17.8%
Diluted EPS	$2.33	$2.32	$1.46	+0.4%	+59.6%

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	Q2 FY2027	Q1 FY2027	Q2 FY2026	On the quarter	On the year
Operating cash flow	575	893	460	-35.6%	+25.0%
Capital expenditure	14.0	17.0	9.0	-17.6%	+55.6%
Free cash flow	561	876	451	-36.0%	+24.4%
Free cash flow margin	27.4%	45.3%	25.6%
Cash from investing	352	29.0	-50.0	+1,113.8%
Cash from financing	502	-498	-219
Depreciation and amortisation	50.0	51.0	47.0	-2.0%	+6.4%
Share-based compensation	184	155	191	+18.7%	-3.7%
Buybacks	453	448	358	+1.1%	+26.5%
Diluted shares, weighted	211m	212m	215m	-0.5%	-1.9%
Shares outstanding at period end	209m	211m	213m	-0.9%	-1.9%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q2 FY2027	Q1 FY2027	Q2 FY2026	On the quarter	On the year
Shareholders' equity	3,383	3,189	2,715	+6.1%	+24.6%
Debt	3,478	2,500	2,500	+39.1%	+39.1%
Operating lease liabilities	175	187	197	-6.4%	-11.2%
Other liabilities	5,947	6,056	5,444	-1.8%	+9.2%
Total liabilities and equity	12,983	11,932	10,856	+8.8%	+19.6%
Fixed assets	124	122	109	+1.6%	+13.8%
Goodwill	4,331	4,337	4,275	-0.1%	+1.3%
Intangible assets	423	453	521	-6.6%	-18.8%
Investments	259	638	515	-59.4%	-49.7%
Cash and equivalents	4,098	2,671	2,003	+53.4%	+104.6%
Receivables	684	579	532	+18.1%	+28.6%
Other assets	3,064	3,132	2,901	-2.2%	+5.6%
Total assets	12,983	11,932	10,856	+8.8%	+19.6%

Questions

What was Autodesk's revenue in Q2 FY2027?

Autodesk (ADSK) reported revenue of $2.0 billion for Q2 FY2027, the quarter ended 31 July 2026, up 16.1% on the same quarter a year earlier.

How much did Autodesk earn in Q2 FY2027?

Net income for Q2 FY2027 was $492 million, up 57.2% on the year, and diluted earnings per share $2.33.

When did Autodesk report Q2 FY2027 results?

Autodesk filed its 10-Q for the quarter ended 31 July 2026 with the SEC on 28 August 2026.

Quarterly results, the last 20 quarters

	Q3 FY2022 †	Q4 FY2022 * †	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026	Q4 FY2026 *	Q1 FY2027	Q2 FY2027
Revenue	1,126	1,212	1,170	1,237	1,280	1,318	1,269	1,345	1,414	1,469	1,417	1,505	1,570	1,639	1,633	1,763	1,853	1,957	1,934	2,046
Cost of revenue	108	112	117	119	120	124	127	127	127	130	137	140	147	154	160	159	165	166	175	176
Gross profit	1,019	1,098	1,053	1,118	1,160	1,194	1,142	1,218	1,287	1,339	1,280	1,365	1,423	1,485	1,473	1,604	1,688	1,791	1,759	1,870
Gross margin	90%	91%	90%	90%	91%	91%	90%	91%	91%	91%	90%	91%	91%	91%	90%	91%	91%	92%	91%	91%
R&D	282	290	289	306	311	313	327	355	339	352	346	368	378	393	394	413	416	420	421	464
Operating income	193	142	214	242	256	277	217	262	334	315	299	343	346	366	233	444	470	431	541	599
Operating margin	17%	12%	18%	20%	20%	21%	17%	19%	24%	21%	21%	23%	22%	22%	14%	25%	25%	22%	28%	29%
Interest expense	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	18.0	18.0	18.0	17.0	18.0	19.0	22.0	21.0	21.0	6.0
Pre-tax income	188	107	195	232	242	277	221	258	320	337	309	352	351	372	234	456	468	445	599	593
Tax rate	27%	17%	25%	20%	18%	-6%	27%	14%	25%	16%	18%	20%	22%	19%	35%	31%	27%	29%	18%	17%
Net income	137	89.1	146	186	198	293	161	222	241	282	252	282	275	303	152	313	343	316	491	492
Net margin	12%	7%	12%	15%	15%	22%	13%	17%	17%	19%	18%	19%	18%	18%	9%	18%	19%	16%	25%	24%
Diluted EPS	$0.62	$0.41	$0.67	$0.85	$0.91	$1.35	$0.75	$1.03	$1.12	$1.31	$1.16	$1.30	$1.27	$1.40	$0.70	$1.46	$1.60	$1.48	$2.32	$2.33
Operating cash flow	270	723	434	257	469	911	723	135	18.0	437	494	212	209	692	564	460	439	989	893	575
Capital expenditure	13.4	6.5	12.0	11.0	9.0	8.0	9.0	7.0	5.0	10.0	7.0	9.0	10.0	14.0	8.0	9.0	9.0	17.0	17.0	14.0
Free cash flow	257	716	422	246	460	903	714	128	13.0	427	487	203	199	678	556	451	430	972	876	561
Buybacks	284	596	457	251	186	207	512	104	114	65.0	9.0	111	323	409	354	358	359	331	448	453
Dividends paid	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	n/a	n/a	n/a	n/a	n/a	n/a
Shares outstanding	220m	218m	217m	216m	216m	215m	214m	214m	214m	214m	216m	215m	215m	214m	214m	213m	212m	212m	211m	209m
Filing	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 31 July 2026, filed 28 August 2026: the filing.