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THE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & LifestyleTHE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & Lifestyle

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Autodesk hires board member as interim CFO, reports preliminary revenue above projections.

image credit: autodesk image credit: autodesk
image credit: autodesk image credit: autodesk

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Autodesk On Friday, the board selected Elizabeth Rafael as interim chief financial officer, and the company announced preliminary first-quarter sales that exceeded analysts’ forecasts, sending its shares up 8% in extended trade.
Deborah Clifford, who previously served as Autodesk’s CFO, will become chief strategy officer. Both appointments will take effect immediately.
Autodesk reported preliminary first-quarter revenue of roughly $1.42 billion, exceeding analysts’ projections of $1.39 billion, according to LSEG data.
Rafael previously served as the chief transformation officer at GoDaddy from 2018 to 2019 and has also held positions at Apple, such as vice president and corporate controller.
She remains an Autodesk director but has stepped down from the audit committee.
Autodesk also stated that there will be no restatement or adjustment to any financial statements following the audit committee’s review of the company’s free cash flow and non-GAAP operating margin practices.

“Thank you for your patience as we work through this important process.” “We take situations like this very seriously and are relieved to have the investigation behind us,” stated CEO Andrew Anagnost.
Autodesk offers 3D design and engineering solutions for a variety of industries, including building, manufacturing, and media. Its portfolio of products includes Revit and Fusion 360 software.
The preliminary adjusted earnings per share came in at roughly $1.87. Analysts expected $1.74.

The company also raised its full-year EPS forecast to $7.99 to $8.21, up from $7.89 to $8.11 previously.
Autodesk said it plans to file its delayed annual report soon and have an earnings call to discuss its first-quarter performance.


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