Autodesk reports ‘disappointing’ Q3 results

Revenue for the design software giant was slated as $548million, compared to $549m in the third quarter of fiscal 2012. GAAP operating margin was 6%, compared to 16% in the third quarter of fiscal 2012. "Our revenue results were disappointing and were primarily caused by a weakening demand environment," said Bass. "While we experienced pockets of relative strength in the US, northern Europe, and Russia, most other markets around the world slowed during the quarter, most notably emerging markets." Mark Hawkins, Autodesk's executive vice president and chief financial officer, said the company was now reassessing its long term financial model and not providing revenue targets at this time. "While revenue growth will be a key determining factor in the years to come, we remain committed to growing our non-GAAP operating margin and believe we can achieve a 30+% run rate as we exit our fiscal 2015," he concluded.