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DocuSign Shares Plunge Despite Revenue, EPS Beat

Stock MarketsDec 02, 2021 04:31PM ET
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© Reuters.

By Sam Boughedda

Investing.com — DocuSign Inc (NASDAQ:DOCU) announced earnings per share of 58 cents on revenue of $545.5 million. Analysts polled by Investing.com anticipated EPS of 46 cents on revenue of $532.61 million.

DocuSign shares have plunged following the report, falling over 22%.

Billings were $565.2 million, representing an increase of 28% year-over-year, with subscription revenue coming in at $528.6 million, an increase of 44% year-over-year.

"Third quarter revenue growth of 42% year-over-year and operating margin of 22% exceeded our expectations. After six quarters of accelerated growth, we saw customers return to more normalized buying patterns, resulting in 28% year-over-year billings growth," said Dan Springer, CEO of DocuSign.

"With a $50 billion TAM and 1.11 million customers worldwide, we are confident in the value DocuSign delivers in an increasingly digital anywhere economy."

Looking ahead, the company said it sees fourth quarter revenue between $557 million and $563 million, below the $573.79 million consensus, while fiscal year 2021 revenue is anticipated between $2.083 billion and $2.089 billion.

DocuSign Shares Plunge Despite Revenue, EPS Beat
 

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Comments (3)
YC Teng
YC Teng Dec 02, 2021 9:27PM ET
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Irrational exuberance 🤔
Sabi Sab
SabiSab Dec 02, 2021 7:39PM ET
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Nothing.  It's just a matter of supply and demand.
Sam Ram
Sam Ram Dec 02, 2021 7:20PM ET
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If company did well in every sector then why after hour stock price went down like crazy?
John Snowden
John Snowden Dec 02, 2021 7:20PM ET
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because they only grew by 28%. the market looks at 60% and higher as real growth to sustain its value. This is likely the start of a large tech correction.
Brian Anderson
Brian Anderson Dec 02, 2021 7:20PM ET
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Lower than expected guidance for next quarter.
 
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