Autodesk Inc (NASDAQ:ADSK) stock fell 4.33% (As on November 22, 11:28:03 AM UTC-4, Source: Google Finance) after the company posted better than expected results for the fourth quarter of FY 24. Total billings decreased 11 percent to $1,204 million. Recurring revenue represents 98 percent of total. Design revenue was $1,192 million, an increase of 10 percent as reported, and 12 percent on a constant currency basis. On a sequential basis, Design revenue increased 3 percent as reported, and 4 percent on a constant currency basis. Make revenue was $134 million, an increase of 15 percent as reported, and 16 percent on a constant currency basis. On a sequential basis, Make revenue increased 3 percent as reported and on a constant currency basis. Subscription plan revenue was $1,314 million, an increase of 11 percent as reported, and 13 percent on a constant currency basis. On a sequential basis, subscription plan revenue increased 3 percent as reported, and 4 percent on a constant currency basis. Net revenue retention rate remained within the range of 100 to 110 percent, on a constant currency basis. Deferred revenue increased 6 percent to $4.02 billion. Unbilled deferred revenue was $1.22 billion, an increase of $322 million compared to the third quarter last year. Remaining performance obligations (“RPO”) increased 12 percent to $5.24 billion. Current RPO increased 12 percent to $3.52 billion.

ADSK in the fourth quarter of FY 24 has reported the adjusted earnings per share of $2.07, beating the analysts’ estimates for the adjusted earnings per share of $1.99, according to Zacks Investment Research. The company had reported the adjusted revenue growth of 10 percent to $1.41 billion in the fourth quarter of FY 24, beating the analysts’ estimates for revenue of $1.39 billion. Total non-GAAP operating income was $547 million, compared to $465 million in the third quarter last year. Non-GAAP operating margin was 39 percent, up 3 percentage points compared to the third quarter last year. Cash flow from operating activities was $18 million, a decrease of $451 million compared to the third quarter last year. Free cash flow was $13 million, a decrease of $447 million compared to the third quarter last year.

For the current quarter ending in January, Autodesk expects its per-share earnings to range from $1.91 to $1.97. The company expects revenue to be in the range of $1.42 billion to $1.44 billion for the fiscal fourth quarter.

Autodesk expects full-year earnings to be in the range of $7.43 to $7.49 per share, with revenue ranging from $5.45 billion to $5.47 billion.