Autodesk jumps on back of strong Q1, guidance
Autodesk (NASDAQ:ADSK) shares jumped on Friday after the architecture software firm posted first-quarter results and guidance that topped expectations.




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For the period ending April 30, Autodesk (ADSK) said it earned an adjusted $1.43 per share on $1.17B, up 18.3% year-over-year. Analysts were expecting the company to earn an adjusted $1.34 per share and $1.15 billion in sales.
The company generated $434M in cash flow from operations and had $422M in free cash flow.
"Autodesk's strong Q1 results reflect the company's steady execution, industry leading products and platforms, and resilience through elevated times of uncertainty," said Andrew Anagnost, Autodesk (ADSK) president and CEO, in a statement. 
Autodesk (ADSK) shares gained nearly 9% to $208.11 in early trading on Friday. 
Looking ahead, the company said it expects second-quarter revenue to be between $1.22B and $1.24B, compared to estimates of $1.22B.
It expects adjusted earnings between $1.54 and $1.60 per share, compared to estimates of $1.60 per share, including the impact of Russia and certain currency movements, Debbie Clifford, Autodesk CFO, explained. 
Ahead of earnings, investment firm Deutsche Bank cut its rating and price target on Autodesk (ADSK), noting the potential for a "mixed" first-quarter and a very weak 2023.