On Friday, Autodesk, a leading provider of 3D design and engineering solutions, announced the appointment of Elizabeth Rafael, a current board member, as its interim Chief Financial Officer (CFO). The company also unveiled its preliminary first-quarter revenue, surpassing analysts’ expectations, resulting in an 8% surge in its shares during extended trading.
Deborah Clifford, the former CFO of Autodesk, will transition to the role of Chief Strategy Officer. Both appointments are effective immediately.
Autodesk reported preliminary first-quarter revenue of approximately $1.42 billion, exceeding analysts’ projections of $1.39 billion. This positive financial performance underscores the company’s strong market position and continued growth trajectory.
Elizabeth Rafael brings a wealth of experience to her new role, having previously served as the Chief Transformation Officer at GoDaddy from 2018 to 2019. Her tenure at Apple, where she held the position of Vice President and Corporate Controller, further enriches her background in financial leadership. Despite her new role, Rafael will continue to serve as a director on Autodesk’s board, though she has stepped down from the company’s audit committee.
Autodesk also provided reassurance regarding its financial practices, stating that there will be no restatement or adjustment of financial statements following the conclusion of the audit committee’s investigation into the company’s free cash flow and non-GAAP operating margin practices.
CEO Andrew Anagnost expressed gratitude for stakeholders’ patience during the investigation, emphasizing the company’s commitment to transparency and accountability.
In addition to surpassing revenue expectations, Autodesk reported preliminary adjusted earnings per share of around $1.87, surpassing analysts’ estimates of $1.74. The company also raised its full-year earnings per share guidance to a range of $7.99 to $8.21, up from the previous range of $7.89 to $8.11. Autodesk is actively working on filing its delayed annual report and plans to conduct an earnings call to discuss its first-quarter results, signaling its commitment to maintaining open communication with investors and stakeholders.
