Autodesk raises annual forecasts on growing software demand, shares rise

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(Reuters) -Autodesk raised its annual revenue and profit forecasts on Thursday, betting on growing demand for its design and engineering software, sending its shares surging around 12% in extended trading.

Demand for the company’s products is steadily increasing across construction, infrastructure and manufacturing industries, driven by growing subscription renewals and expanding enterprise agreements with large customers.

Autodesk offers software that enables users to design buildings, infrastructure and products using data-rich 3D models rather than traditional blueprints.

The company, which competes with Adobe, PTC and Trimble, offers tools that are used in movies and games to create 3D animation, visual effects and manage production.

Autodesk now expects fiscal 2026 revenue to range between $7.36 billion and $7.45 billion, up from its prior forecast of $7.16 billion to $7.31 billion.

It also raised its annual adjusted profit per share forecast to between $9.80 and $9.98, compared with its earlier projection of $9.50 to $9.73.

For the third quarter, Autodesk expects revenue of $1.80 billion to $1.81 billion, above analysts’ average estimate of $1.77 billion, according to data compiled by LSEG.

It forecast adjusted earnings per share of $2.48 to $2.51 for the quarter, above estimates of $2.39.

Autodesk’s second quarter revenue rose 17% to $1.76 billion, beating estimates of $1.73 billion.

The adjusted earnings per share of $2.62 exceeded estimates of $2.45 for the quarter ended July 31.

(Reporting by Jaspreet Singh in Bengaluru and Juby Babu in Mexico City; Editing by Mohammed Safi Shamsi)