DocuSign stock fell late Thursday as its July-quarter earnings topped Wall Street targets but October-quarter revenue guidance edged by views.
San Francisco-based DocuSign (DOCU) said second-quarter earnings came in at 47 cents per adjusted share, up 176% from the year-earlier period. Revenue rose 50% to $511.8 million, including acquisitions, the company said.
A year earlier, DocuSign earned 17 cents a share on sales of $342 million.
DocuSign stock analysts expected the company to report earnings of 40 cents a share on sales of $488.7 million.
DocuSign stock fell 2% to 288.50 in extended trading on the stock market today.
The company’s software automates the filing of contracts over the internet and certifies electronic signatures. One question for DocuSign is whether customer growth will slow as the coronavirus pandemic eases and business travel normalizes.
DocuSign Stock: Revenue Outlook Edges By Estimates
July-quarter billings rose 47% to $595.4 million, topping estimates of $567.2 million.
For the current quarter ending in October, DocuSign forecast revenue of $529 million at the midpoint of its outlook. Analysts had projected revenue of $522 million. DocuSign said it expects billings of $591 million vs. estimates of $583 million.
DocuSign stock traded in a buy zone, just above an entry point of 290.33. In addition, DOCU stock has gained 34% in 2021.
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