Design software company Autodesk (NASDAQ:ADSK) will be announcing earnings results tomorrow after market close. Here’s what you need to know.

Autodesk beat analysts’ revenue expectations by 1.5% last quarter, reporting revenues of $1.51 billion, up 11.9% year on year. It was a mixed quarter for the company, with a solid beat of analysts’ EBITDA estimates but a significant miss of analysts’ billings estimates.

Is Autodesk a buy or sell going into earnings? Read our full analysis here, it’s free.

This quarter, analysts are expecting Autodesk’s revenue to grow 10.5% year on year to $1.56 billion, in line with the 10.5% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $2.11 per share.

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Autodesk has only missed Wall Street’s revenue estimates once over the last two years, exceeding top-line expectations by 1.2% on average.

Looking at Autodesk’s peers in the design software segment, some have already reported their Q3 results, giving us a hint as to what we can expect. ANSYS delivered year-on-year revenue growth of 31.2%, beating analysts’ expectations by 14.9%, and Cadence reported revenues up 18.8%, topping estimates by 2.9%. ANSYS traded up 6.7% following the results while Cadence was also up 12.5%.

Read our full analysis of ANSYS’s results here and Cadence’s results here.

There has been positive sentiment among investors in the design software segment, with share prices up 18.1% on average over the last month. Autodesk is up 12.3% during the same time and is heading into earnings with an average analyst price target of $312.01 (compared to the current share price of $321.89).

Unless you’ve been living under a rock, it should be obvious by now that generative AI is going to have a huge impact on how large corporations do business. While Nvidia and AMD are trading close to all-time highs, we prefer a lesser-known (but still profitable) semiconductor stock benefitting from the rise of AI. Click here to access our free report on our favorite semiconductor growth story.