Autodesk Inc (NASDAQ:ADSK) stock rose 2.06% (As on August 25, 11:14:31 AM UTC-4, Source: Google Finance) after the company posted better than expected results for the second quarter of FY 23. Design revenue was $1,064 million, an increase of 15 percent as reported and on a constant currency basis. On a sequential basis, Design revenue increased 6 percent as reported and on a constant currency basis. Make revenue was $113 million, an increase of 26 percent as reported, and 27 percent on a constant currency basis. On a sequential basis, Make revenue increased 10 percent as reported and on a constant currency basis. Subscription plan revenue was $1,160 million, an increase of 16 percent as reported and 17 percent on a constant currency basis. On a sequential basis, subscription plan revenue increased 7 percent as reported and on a constant currency basis. Net revenue retention rate remained within the range of 100 to 110 percent. Total billings increased 17 percent to $1,191 million. Deferred revenue increased 12 percent to $3.70 billion. Unbilled deferred revenue was $984 million, an increase of $141 million compared to the second quarter of last year. Remaining performance obligations (“RPO”) increased 13 percent to $4.69 billion. Current RPO increased 10 percent to $3.14 billion. Cash flow from operating activities was $257 million, an increase of $55 million compared to the second quarter last year. Free cash flow was $246 million, an increase of $60 million compared to the second quarter last year.

ADSK in the second quarter of FY 23 has reported the adjusted earnings per share of $1.65, beating the analysts’ estimates for the adjusted earnings per share of $1.56, according to Zacks Investment Research. The company had reported the adjusted revenue growth of 17 percent to $1.24 billion in the second quarter of FY 23, beating the analysts’ estimates for revenue of $1.22 billion.

For the current quarter ending in November, Autodesk expects its per-share earnings to range from $1.66 to $1.72. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.66. The company said it expects revenue in the range of $1.27 billion to $1.29 billion for the fiscal third quarter. Analysts surveyed by Zacks had expected revenue of $1.27 billion.

Autodesk expects full-year earnings in the range of $6.52 to $6.71 per share, with revenue ranging from $4.99 billion to $5.04 billion.