US Cloud Usage Not Yet Back to Pre-COVID-19 Levels, Says Autodesk

Having transitioned to a cloud-based, recurring-revenue model from a traditional software license offering, Autodesk is able to monitor cloud usage “across the globe and see the positive correlation between increasing usage levels and new business growth in those regions,” said CEO Andrew Anagnost on a Q3 investor call Tuesday. China, South Korea, Japan and most of Europe had cloud usage in the quarter rise above their pre-pandemic levels, he said. “Usage trends in the U.S. and U.K. have not yet returned to pre-COVID levels, while they have stabilized in the U.S.,” and grew sequentially from Q2 in the U.K., he said.