Autodesk projects quarterly results above estimates on cloud subscription, AI design tools demand

Design software maker Autodesk forecast fourth-quarter revenue and profit above Wall Street estimates on Tuesday, supported by steady subscription renewals and growing demand for its cloud-based design tools.

Shares of the San Francisco-based company rose more than 5% in extended trading after it also topped market expectations for third-quarter results.

Steady demand trends in data center construction, infrastructure upgrades and industrial building projects have continued to bolster the long-term outlook for companies such as Autodesk.