DocuSign stock plunged after its October-quarter earnings and revenue topped Wall Street targets but revenue guidance for DOCU stock missed expectations.
San Francisco-based DocuSign (DOCU) reported third-quarter earnings after the market close on Thursday. DocuSign earnings came in at 58 cents a share on an adjusted basis, said the maker of electronic signature software.
Revenue rose 42% to $545.5 million, including acquisitions, the company said. A year earlier, DocuSign earnings were 22 cents a share on sales of $383 million.
Analysts that follow DocuSign stock expected the company to report earnings of 46 cents a share on sales of $532.6 million.
For the current quarter ending in January, DocuSign forecast revenue of $560 million at the midpoint of its outlook. Analysts had projected revenue of $575.3 million.
DocuSign stock plunged 20% to near 187 in extended trading on the stock market today.
DocuSign Stock Lagged Nasdaq Performance
The company’s software automates the filing of contracts over the internet and certifies electronic signatures.
DocuSign pulled back after it reported July-quarter earnings. In 2021, DOCU stock had gained only 4% heading into the earnings report.
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