DocuSign Q1 results top estimates; stock jumps
Investing.com | Author Yasin Ebrahim
Published Jun 08, 2023 04:24PM ET
Updated Jun 09, 2023 06:46AM ET
Investing.com -- DocuSign (NASDAQ:DOCU) reported Thursday fiscal first-quarter results that topped estimates as an increase in billings bolstered performance.
DocuSign was up more than 7% in premarket trading following the report.
The software company reported Q4 adjusted EPS of $0.72 on revenue of $661.4 million, topping consensus estimates for EPS of $0.55 on revenue of $641.7M.
Gross margin was 79%, up from 78% in the same period last year.
Billings were $674.8M in Q1, an increase of 10% year-over-year.
Looking ahead to Q2, the company forecasts revenue in the range of $675M to $679M, in line with estimates of $668.1M, with billings expected to come in between $646M and $656M.
For the year, revenue was guided in a range of $2.71B to $2.73B, just above consensus estimates of $2.70B, while billings were expected between $2.74B and $2.75B.
"With sales execution woes and macro uncertainty ahead, we see potential for [DocuSign] to outperform its [fiscal year 2024] outlook, particularly on margins," analysts at Wolfe Research said in a note.
Get The News You Want
Written By: Investing.com
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.