Autodesk Stock Falls as Tepid Profit Outlook Overshadows Q2 Earnings Beat

Autodesk (ADSK) shares fell sharply in pre-market trading Friday, as investors focused on a slightly disappointing full-year profit forecast that overshadowed a second-quarter earnings and revenue beat.

Guidance Misses High Expectations

For its second fiscal quarter of 2027, Autodesk reported strong results that surpassed analyst estimates. However, the company's forward-looking guidance failed to satisfy a market that had anticipated a more robust outlook.

• Adjusted EPS: $3.30, beating the consensus estimate of $3.12.
• Revenue: $2.05 billion, exceeding the estimated $2.01 billion.
• Full-Year Guidance: The company guided for full-year adjusted EPS with a midpoint of approximately $12.56, just shy of the analyst consensus of $12.60.

This slight miss in the forecast triggered a classic "sell the guidance" reaction, where strong current performance is outweighed by concerns about future profitability.

Acquisition and Backlog Metrics Add Pressure

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Adding to investor concerns were the near-term financial impacts of Autodesk's recent $3.6 billion acquisition of MaintainX, which closed on August 3. The company noted that the deal is expected to dilute margins in the short term due to integration costs. Approximately $45 million in transaction-related expenses are already affecting its free cash flow guidance.

Furthermore, some key growth metrics appeared soft. Remaining performance obligations (RPO) grew only 2% year-over-year, while unbilled deferred revenue declined 8%. Autodesk attributed this to a strategic reduction in multi-year discounts, a move that can suppress reported backlog growth.

Market Reaction

The stock was down 4.5% in pre-open trading, erasing a significant portion of the 6% gain it had posted during Thursday's regular session in anticipation of the results. The selling pressure occurred amid a subdued broader market, offering little external support.

Despite the negative sentiment, analysts at UBS raised their price target on the stock to $325 from $290, maintaining a Buy rating. The firm cited the company's durable low-teens organic growth as a sign of underlying strength.