Autodesk, Inc. (NASDAQ: ADSK) stock lost over 3.2% on 26th August, 2020 (as of 3:32 pm GMT+2 ; Source: Google finance) despite decent second quarter of FY 21. But, for the fiscal 2021, the company expects Billing to be in the range of $4,070 – $4,170, which reflects decline in the range (3.0%) – (0.5%), revenue is expected to be in the range of $3,715 – $3,765 million, which represents an increase of 13.5% – 15.0%, Non-GAAP operating margin is expected to be in the range of 27.5% – 29.0%, EPS non-GAAP is expected to be in the range of $3.72 – $3.90 and Free cash flow is expected to be in the range of $1,300 – $1,400 million.
The company delivered total non-GAAP operating income of $262 million, compared to $187 million in the second quarter last year. The company posted the Non-GAAP operating margin of 29 percent, which represents an expansion of 5 percentage points. Deferred revenue rose 28% to $2.88 billion. Unbilled deferred revenue was $469 million, which represents a decline of $95 million compared to the second quarter of last year. Remaining performance obligations (RPO) rose 19% to $3.3 billion. Current RPO grew 15% to $2.3 billion. Total billings declined 12% to $787 million. The company generated cash flow from operating activities of $91 million, a decrease of $128 million compared to the second quarter last year. The company generated the free cash flow of $64 million, a decrease of $140 million compared to the second quarter last year.
ADSK in the second quarter of FY 21 has reported the adjusted earnings per share of 98 cents while reported the adjusted revenue growth of 15 percent to $913.1 million in the second quarter of FY 21. Design revenue rose 15% to $821 million. On a sequential basis, Design revenue rose 3%. Make revenue grew 37% to $71 million. On a sequential basis, Make revenue rose 5% in the quarter. Subscription plan revenue grew 27% to $841 million and Maintenance plan revenue declined 51% to $51 million during the second quarter.
For the third quarter of 2021, the company expects revenue to be in the range of $930 – $945 million and EPS non-GAAP is expected to be in the range of $0.91 – $0.97