DocuSign's stock jumps 8% on results, guidance
DocuSign Inc.'s (DOCU) stock initially jumped 8% before cooling in after-hours trading Thursday after the software company posted better-than-expected quarterly results and sales guidance. DocuSign reported fiscal third-quarter net income of $38.8 million, or 19 cents a share, compared with a net loss of $29.9 million, or 15 cents a share, in the same quarter a year earlier. Adjusted earnings were 79 cents a share. Revenue climbed to $700.4 million from $645.5 million in the year-ago quarter. Analysts surveyed by FactSet had expected on average net earnings of 63 cents a share on revenue of $690 million. DocuSign provided fourth-quarter sales guidance of $696 million to $700 million; FactSet analysts are forecasting $694 million. Shares of DocuSign have dropped 14% this year. The broader S&P 500 index has increased 19%.
-Jon Swartz
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12-07-23 1615ET
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