Autodesk, Inc. (NASDAQ: ADSK) stock fell over 0.8% on 26^th Feb, 2021 (as of  12:50:02 UTC-5; Source: Google finance) after the company though the company posted lower than expected results for the fourth quarter of FY 20. During the quarter, total billings declined 1 percent to $1.47 billion. The company reported Design revenue of $899 million, which represents an increase of 13% as reported, and 14% on a constant currency basis. On a sequential basis, Design revenue rose 6% as reported and on a constant currency basis. The company reported Make revenue of $82 million, an increase of 28% as reported, and 27% on a constant currency basis. On a sequential basis, Make revenue increased 7% as reported, and 6% on a constant currency basis. The company reported Subscription plan revenue of $950 million, which represents an increase of 22% as reported and on a constant currency basis. On a sequential basis, subscription plan revenue increased 7% as reported and on a constant currency basis. The company reported Maintenance plan revenue of $30 million, which is a decline of 62% as reported, and 61% on a constant currency basis. On a sequential basis, maintenance plan revenue declined 24% as reported, and 22% on a constant currency basis. Deferred revenue increased 12% to $3.36 billion. Remaining performance obligations (RPO) increased 19% to $4.24 billion.

ADSK in the fourth quarter of FY 20 has reported the adjusted earnings per share of $1.18, beating the analysts’ estimates for the adjusted earnings per share of $1.07, according to the Zacks Consensus Estimate. The company had reported the adjusted revenue growth of 16 percent to $1.04 billion in the fourth quarter of FY 20, beating the analysts’ estimates for revenue by 3.10%. The company delivered total non-GAAP operating income of $315 million, compared to $259 million in the fourth quarter last year with Non-GAAP operating margin of 30 percent, up 1 percentage point.

On the other hand, ADSK has signed a definitive agreement to acquire Portland, Oregon-based Innovyze, Inc., which is a global leader in water infrastructure software, for $1 billion net of cash subject to working capital and tax closing adjustments. The acquisition will position Autodesk as a technology leader in end-to-end water infrastructure solutions from design to operations, accelerates Autodesk’s digital twin strategy, and creates a clearer path to a more sustainable and digitized water industry. The deal is subject to customary closing conditions and is anticipated to close during Autodesk’s first quarter of Fiscal Year 2022, ending April 30, 2021.