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…
