SAN RAFAEL, CA – Autodesk reported fiscal first quarter 2020 revenues of $735.5 million, up 31.4% year-over-year. Revenue growth was driven by higher subscription revenues, gross margin expansion and lower operating expenses.

Subscription revenues (81% of revenues) grew 70% year-over-year to $595.8 million, while maintenance revenues (15.2%) declined 38.2% to $112 million.

Autodesk is the parent company of the Eagle CAD brand.

Revenues from the Americas (40.2%) increased 26.7% from the year-ago quarter to $295.8 million. Europe, Middle East and Africa (EMEA) revenues (40.4%) rallied 34.5% to $297.2 million. Revenues from Asia-Pacific (19.4%) increased 35.1% to $142.5 million.

AEC revenues (41.4%) were up 37.2% year-over-year to $304.3 million. AutoCAD and AutoCAD LT revenues (29%) rose 37% to $213.2 million. MFG revenues (22.8%) increased 23.7% to $167.5 million. M&E (6.2%) climbed 8.9% to $45.5 million. Other revenues (0.7%) declined 5.7% to $5 million.

Manufacturing revenues were up 24% year-over-year, driven by strength across all products and geographies. Billings of $798 million were up 40% year-over-year.

As of Apr. 30, Autodesk had cash and cash equivalents (including marketable securities) of $972.1 million, compared with $953.6 million as of Jan. 31.

Cash flow from operating activities was $221 million, increasing $238 million year-over-year. Autodesk repurchased 582,000 shares for $100 million.

For fiscal second quarter, Autodesk expects revenues between $782 million and $792 million. For fiscal 2020, the company expects revenues between $3.25 billion and $3.3 billion.

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