Net Revenue by Product Family |
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Our product offerings are focused in four primary product families: Architecture, Engineering and Construction ("AEC"), AutoCAD and AutoCAD LT, Manufacturing ("MFG"), and Media and Entertainment ("M&E"). |
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| Three Months
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| Three Months
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| Change compared to prior fiscal year | ||
(In millions, except percentages) (1) |
| $ |
| % | |||
AEC (2) | $ 575 |
| $ 507 |
| $ 68 |
| 13 % |
AutoCAD and AutoCAD LT (2) | 354 |
| 323 |
| 31 |
| 10 % |
MFG | 254 |
| 225 |
| 29 |
| 13 % |
M&E | 78 |
| 63 |
| 15 |
| 24 % |
Other | 19 |
| 8 |
| 11 |
| 138 % |
Total Net Revenue | $ 1,280 |
| $ 1,126 |
| $ 154 |
| 14 % |
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(1) In the current fiscal year, the Company changed its rounding presentation to the nearest whole number in millions of reported amounts, except per share data or as otherwise noted. The current year rounding presentation has been applied to all prior year amounts presented and, in certain circumstances, this change may adjust previously reported balances. |
(2) During the current fiscal year, the Company corrected an immaterial classification error and reclassified certain revenue amounts between Architecture, Engineering and Construction and AutoCAD and AutoCAD LT. Fiscal quarters ended October 31, 2021 (presented here), January 31, 2022, and April 30, 2022 (not presented here), were updated to conform to the current period presentation. These reclassifications did not impact total net revenue. |
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Stock Repurchase Authorization
In November 2022, the Board of Directors authorized the repurchase of $5 billion of the Company's common stock, in addition to the approximately 3.8 million shares remaining, as of October 31, 2022, under previously announced share repurchase programs. The repurchase program allows Autodesk to offset dilution and reduce shares outstanding over time.
Under the share repurchase program, Autodesk may repurchase shares from time to time through various means. The share repurchase program does not have an expiration date and the pace and timing of repurchases will depend on factors such as cash generation from operations, available surplus, the volume of employee stock plan activity, cash requirements for acquisitions, economic and market conditions, stock price and legal and regulatory requirements.
In the first nine months of fiscal 2023, Autodesk repurchased approximately 4.4 million shares of its common stock at an average price of approximately $200 per share.
Business Outlook
The following are forward-looking statements based on current expectations and assumptions, and involve risks and uncertainties, some of which are set forth below under "Safe Harbor Statement." Autodesk's business outlook for the fourth quarter and full-year fiscal 2023 considers the current economic environment and foreign exchange currency rate environment. A reconciliation between the fiscal 2023 GAAP and non-GAAP estimates is provided below or in the tables following this press release.
Fourth Quarter Fiscal 2023 |
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Q4 FY23 Guidance Metrics |
| Q4 FY23
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Revenue (in millions) |
| $1,303 - $1,318 |
EPS GAAP |
| $0.99 - $1.05 |
EPS non-GAAP (1) |
| $1.77 - $1.83 |
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(1) Non-GAAP earnings per diluted share excludes $0.74 related to stock-based compensation expense, $0.11 for the amortization of purchased intangibles, $0.04 for lease-related asset impairments and other charges, and $0.01 for acquisition-related costs, partially offset by ($0.12) related to GAAP-only tax charges. |
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