Key Highlights

● Second-quarter Revenue was $2,046 million, up 16%, with billings up 10% to $1,854 million.

● Fiscal 2027 revenue guidance is $8,295 million to $8,345 million, raised from the prior outlook.

● Free Cash Flow was $561 million, up 24%; six-month Buybacks totalled $901 million.

● Diana Colella succeeds Amy Bunszel as head of the architecture, engineering and construction business.

Latest development: a new head for the largest business

Autodesk, Inc. (NASDAQ:ADSK), an S&P 500 member since 1 December 1989 according to index listings, announced a Leadership change as its most recent company news. On 6 October 2026 it named Diana Colella executive vice president of its architecture, engineering and construction (AEC) business, which the company describes as its largest industry business. She succeeds Amy Bunszel, who announced her retirement and stays through 2 November 2026 to support the handover.

Colella, who has spent nearly three decades at the group, will also continue to oversee Media & Entertainment and will search for a new leader for that unit. Chief executive Andrew Anagnost said: "Diana is the right leader for this moment." The release gave no financial detail, so the change matters mainly as continuity planning in the segment where Autodesk is pushing connected data and AI.

Second-quarter results

The latest reported results are for the quarter ended 31 July 2026, published on 27 August. Revenue was $2,046 million, up 16% (14% in constant currency). Billings rose 10% to $1,854 million. Remaining performance obligations were $7,433 million, up 2%, while current RPO reached $5,245 million, up 12%.

Profitability improved. GAAP Diluted Earnings per Share were $2.33, up $0.87, and non-GAAP EPS was $3.30, up $0.68. GAAP Operating Margin was 29% and non-GAAP operating margin 41%, each higher than a year earlier. Operating Cash Flow was $575 million, up 25%. Free cash flow was $561 million, up 24%, and the Cash Flow Statement shows $901 million of share repurchases over the first six months of the fiscal year.

Guidance: higher, but profit below some expectations

Autodesk raised its billings and revenue guidance for fiscal 2027 (ending 31 January 2027, now including MaintainX). It expects revenue of $8,295 million to $8,345 million, billings of $8,575 million to $8,650 million, non-GAAP EPS of $12.52 to $12.60 and free cash flow of $2,725 million to $2,750 million. The non-GAAP operating margin outlook of about 39% was unchanged. The CFO said billings and revenue growth guidance were raised, while the non-GAAP margin outlook was unchanged.

For the third quarter, ending 31 October 2026, the company guided to revenue of $2,125 million to $2,140 million and non-GAAP EPS of $3.04 to $3.09. Third-quarter GAAP EPS is guided to $1.57 to $1.87, a notably wider range than the non-GAAP guide.

MaintainX integration and AI product push

Investors will want to see whether third-quarter revenue lands inside the guided range and whether billings growth, which trailed revenue growth in the second quarter, narrows the gap. Autodesk's product messaging centres on its Assistant AI companion and agentic workflows in Forma, Fusion and Media & Entertainment, announced around Autodesk University 2026, although the company has not tied those products to specific financial targets.

The gap between the two growth rates is the clearest number to carry forward: second-quarter billings rose 10% while revenue rose 16%.