DocuSign’s quarterly results show growth, but stock falls

Despite posting positive quarterly results, DocuSign Inc.'s stock fell by more than 6% in extended trading on Thursday. The electronic-signature software company reported a fiscal first-quarter net income of $33.8 million, or 16 cents per share, compared to breaking even last year. Adjusted earnings per share were 82 cents, beating analysts' expectations of 79 cents. Revenue increased by 7% year-over-year to $709.6 million, slightly above the consensus estimate of $707 million.

CEO Allan Thygesen stated that the company "continued to stabilize the business and improve profitability," positioning DocuSign for long-term growth. For the current second quarter, the company expects total revenue of $725 million to $729 million, with analysts anticipating $727 million. Full-year projections are $2.92 billion to $2.932 billion in revenue and $2.98 billion to $3.03 billion in billings, meeting analyst expectations.

Additionally, DocuSign is expanding its stock-buyback program by $1 billion.

Source: MarketWatch