DocuSign Shares Plunge 14% on Q1 Earnings Miss
2022.06.09 23:50
DocuSign (DOCU) Shares Plunge 14% on Q1 Earnings Miss
By Davit Kirakosyan
DocuSign Inc. (NASDAQ:DOCU) shares dropped more than 14% after-hours following the company’s reported Q1 results, with EPS of $0.38 coming in worse than the consensus estimate of $0.46. Revenue grew 25% year-over-year to $588.7 million, compared to the consensus estimate of $581.71 million.
Subscription revenue grew 26% year-over-year to $569.3 million, and professional services and other revenue grew 14% year-over-year to $19.4 million. Billings grew 16% year-over-year to $613.6 million.
The company expects Q2/23 revenue in the range of $600-604 million, compared to the consensus estimate of $601.7 million.
For the full 2023-year, revenue is expected to be in the range of $2.47-2.48 billion, compared to the consensus estimate of $2.48 billion.
Shares of DocuSign were down 43% year-to-date going into the results.
