With the economic recovery in full swing, the question for Autodesk investors now is what the company can do to leverage its extensive brand value into new growth opportunities. The answer to that question may well spell the difference between an underappreciated growth opportunity and yet another well-known, old-school tech stock destined to languish.
A Solid Start to the Year
Autodesk got the year off to a good start. Revenue rose 11%, with license revenue rising 15% and making up more than 60% of total revenue. Looking at the company's segments, there was a pretty remarkable conformity. The platforms, manufacturing and design business all grew around 15% for the period. In contrast, weak infrastructure and commercial construction activity is keeping a lid on the AEC (architecture, engineering and construction) business, and growth here was just 3% for the quarter.
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