Why Is Autodesk Stock Down Today?
Autodesk beat headline estimates, but the initial drop exposed a slower backlog measure and acquisition-related margin trade-off.
- ADSK lost most of its measured value in the first minute after the results.
- Revenue grew faster than billings and total remaining obligations.
- Raised revenue guidance included MaintainX, while the margin outlook stayed unchanged.
16:02:11 ET
Reaction by asset (real prices)
| Asset | 2m before | At release | +1m | +15m | +1m % | +15m % | Vol vs normal |
|---|---|---|---|---|---|---|---|
| ADSK | 270.00 | 270.00 | 255.00 | 253.47 | -5.56% | -6.12% | — |
Autodesk shares fell 6.122% in the first 15 minutes after its fiscal second-quarter results crossed on Thursday, August 27, 2026, at 4:02:11 p.m. ET. MoveSurge measured ADSK from $270.00 before the event to $253.47 15 minutes later, despite headline EPS and revenue beating consensus.
The quarter contained a timing mismatch. Revenue increased 16%, while billings increased 10% and total remaining performance obligations grew only 2%. Those measures are not interchangeable, but together they show that recognized revenue ran ahead of some forward-looking demand indicators.
What did Autodesk report in Q2 fiscal 2027?
| Metric | Result | Year-over-year change |
|---|---|---|
| Revenue | $2.046 billion | +16% |
| Billings | $1.854 billion | +10% |
| Total RPO | $7.433 billion | +2% |
| Current RPO | $5.245 billion | +12% |
| Non-GAAP operating margin | 41% | +2 percentage points |
Current RPO, the portion expected to become revenue within 12 months, grew 12%. Total RPO grew more slowly partly because Autodesk has reduced discounts on multi-year contracts, which weighs temporarily on unbilled deferred revenue. The result is a more complicated backlog picture than the revenue beat suggests.
Why did raised guidance fail to reverse the ADSK drop?
Autodesk raised fiscal 2027 billings and revenue guidance to include stronger underlying expectations and the MaintainX acquisition. It kept non-GAAP operating margin guidance near 39%, because operating leverage was offset by MaintainX margin dilution. Free-cash-flow guidance also includes approximately $45 million of MaintainX transaction expenses.
The separate guidance headline crossed at 4:03:21 p.m. ET, after the initial drop. From that later anchor, ADSK moved from $255.18 to $251.50 in one minute, then recovered to $255.00 by minute 15. The measured 0.071% residual decline shows that guidance stabilized the new level without restoring the pre-earnings price.
Autodesk earnings reaction measured
The first results headline produced a 5.556% one-minute decline from $270.00 to $255.00. The move widened modestly over the next 14 minutes, reaching $253.47 on 72,490 measured shares.
This article describes a historical reaction and sourced company disclosures. It does not predict ADSK's future price.
Why is ADSK stock down despite an Autodesk earnings beat?
ADSK fell 6.122% in MoveSurge's first 15-minute window. Revenue grew 16%, but billings grew 10%, total RPO grew 2%, and the unchanged margin outlook reflected acquisition dilution.
Did Autodesk raise fiscal 2027 guidance?
Yes. Autodesk raised revenue and billings guidance, including MaintainX, while keeping non-GAAP operating margin guidance near 39%.
Did Autodesk's guidance reverse the initial stock drop?
The later guidance headline stabilized ADSK near $255.00. It did not restore the $270.00 price measured before the initial results.
Sources
-
https://investors.autodesk.com/news-releases/news-release-details/autodesk-inc-announces-fiscal-2027-second-quarter-results
— Autodesk Investor Relations
Quarterly revenue, billings, RPO, margins, cash flow, and fiscal guidance.
-
https://www.sec.gov/Archives/edgar/data/769397/000076939726000059/q227pressrelease.htm
— U.S. Securities and Exchange Commission
Filed earnings exhibit and MaintainX-related guidance details.
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