Autodesk Inc. (ADSK – Analyst Report) reported first-quarter fiscal 2016 results. Adjusted earnings of 15 cents per share matched the Zacks Consensus Estimate.

Autodesk Inc. – Earnings Surprise | FindTheCompany

The company reported non-GAAP earnings of 30 cents in the quarter, down from 32 cents reported in the year-ago quarter.

Quarter Details

Revenues for the quarter increased 9.1% year over year to $646.5 million, ahead of both management’s guided range of $625 million – $645 million and the Zacks Consensus Estimate of $624 million.

The year-over-year growth in revenues was primarily attributed to a 15.7% jump in subscription revenues to $320 million.

License revenues rose 3.3% from the year-ago quarter to $327 million attributable to an increase in upgrade revenues.

Total billings grew 3% on a year-over-year basis, driven by higher license and subscription billings. Total subscriptions increased approximately 95,000 from the prior quarter.

Segment wise, revenues from Platform Solutions and Emerging Business (PSEB) declined about 13% from the year-ago quarter to $185 million.

Revenues from the Architecture, Engineering and Construction (AEC) business segment surged 21% from the year-ago quarter to $237 million.

Manufacturing revenues increased 25% on a year-over-year basis to $185 million. Autodesk’s Media and Entertainment (M&E) segment rose 6% on a year-over-year basis to $40 million in the reported quarter.

Revenues from Flagship products reached $299 million, flat on a year-over-year basis. Revenues from Suites increased 14% on a year-over-year basis to $240 million. Revenues from New and Adjacent products rose 30% from the year earlier quarter to $108 million.

Geographically, revenues in the Americas rose 19% year over year to $244 million. EMEA revenues grew 9% to $245 million, while the same in APAC increased 3% from the year-ago quarter to $157 million. Revenues in emerging economies rose 17% from the year-ago quarter to $93 million, representing about 14% of total revenue.