DocuSign (DOCU) Stock Dropped 25% on Below Expected Q4 Guidance; Q3 EPS Beat Estimates
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DocuSign Inc. (NASDAQ: DOCU) shares were trading more than 25% lower after-hours following the company’s reported Q3 results.
Quarterly EPS came in at $0.58, beating the consensus estimate of $0.46. Quarterly revenue grew 42% year-over-year to $545.5 million, compared to the consensus estimate of $530.63 million.
According to Dan Springer, the CEO of DocuSign, the company saw customers return to more normalized buying patterns after six quarters of accelerated growth. This resulted in a 28% year-over-year billings growth to $565.2 million.
The company expects Q4 revenue to range from $557 million to $563 million, below the consensus estimate of $573.79 million. For the full 2022-year, the company expects revenue of $2.083-2.089 million, compared to the consensus estimate of $2.09 million.
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