Elizabeth Rafael Named Interim CFO as Autodesk Exceeds Revenue Expectations

Autodesk has appointed Elizabeth Rafael as interim chief financial officer, boosting its shares by 8% in extended trading. Rafael, already a board member, steps into the role immediately following the departure of former CFO Deborah Clifford, who will now serve as chief strategy officer. Rafael, who previously held key roles such as chief transformation officer at GoDaddy and vice president and corporate controller at Apple, will continue as a director at Autodesk but has resigned from the company’s audit committee.

Autodesk announced preliminary first-quarter revenue of approximately $1.42 billion, surpassing analysts’ estimates of $1.39 billion, according to LSEG data. The company assured that there would be no restatement or adjustment of any financial statements after an audit committee investigation into its free cash flow and non-GAAP operating margin practices. CEO Andrew Anagnost expressed gratitude for stakeholders’ patience and emphasized the seriousness with which Autodesk handled the investigation. Autodesk reported preliminary adjusted earnings per share of approximately $1.87. The company also raised its full-year EPS forecast to a range of $7.99 to $8.21, up from the previous range of $7.89 to $8.11.

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