DocuSign jumps after beating expectations for revenue and earnings

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DocuSign jumps after beating expectations for revenue and earnings
Credit: © Reuters.

By Liz Moyer

Investing.com - DocuSign (NASDAQ: DOCU ) beat expectations for earnings and revenue in the third quarter.

Adjusted earnings per share of 57 cents were 15 cents higher than the average analyst estimate. Revenue for the quarter came in at $645.5 million versus the consensus estimate of $627M and up 18.3% from the same time last year.

Shares of DocuSign jumped 16% in after-hours trading, and are down 71% so far this year.

"We delivered solid third quarter results, and are pleased with the continued progress against our critical priorities," said Allan Thygesen, CEO of DocuSign, in a statement.

Billings rose 17% from the same time last year, to $659.4M, which is higher than previous guidance.

DocuSign forecast fourth quarter 2023 revenue of $637M to $641M. It forecast fiscal year 2023 revenue of $2.493 billion to $2.497B.

 

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