Trade War Hurts Autodesk
Software company Autodesk says the US-China trade war could hurt its financials in Q2, despite reporting revenue of US$797 million in the period to July 30, up 30% from the year before.
Autodesk said that so far the company has been disrupted by the trade dispute,which as yet shows no sign of a resolution, but it is taking a cautious approach, due to the currently global economic uncertainty.
The company expects annualised recurring revenue for fiscal 2020 of $3.43 billion to $3.49 billion, down from its previous estimates of $3.5 billion to $3.55 billion.
Autodesk is shifting delivery of its software to the cloud.