DOCU Stock Tumbles As Fiscal 2023 Revenue Guidance Misses Estimates

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DocuSign (DOCU) plunged late Thursday after its January-quarter earnings met estimates and revenue topped views. But fiscal 2023 guidance for DOCU stock came in well below expectations as its Covid-related gains are dissipating.

DocuSign stock tumbled 13.7% to near 81 in extended trading on the stock market today. San Francisco-based DocuSign reported fourth-quarter earnings after the market close.

DocuSign earnings came in at 48 cents a share on an adjusted basis, up 30% from a year earlier, said the maker of electronic signature software. Revenue rose 35% to $580.8 million, the company said.

A year earlier, DocuSign earnings were 37 cents a share on sales of $431 million.

More In-Person Meetings

Demand for DocuSign products surged during the early part of the coronavirus outbreak but many businesses are resuming in-person meetings.

In addition to accommodating electronic…

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