DocuSign earnings and revenue for the fourth quarter, reported late Thursday, topped analyst estimates. Despite the DocuSign earnings beat, shares in the software maker fell in after-hours trading.
The maker of software that digitizes contract paperwork said adjusted earnings were 6 cents a share, with revenue rising 34% to $199.7 million. A year earlier, DocuSign (DOCU) earnings were 1 cent a share on sales of $149 million.
Analysts expected DocuSign earnings of 1 cent a share on sales of $193.6 million for the period ended Jan. 31. DocuSign stock dropped 10% to 52.96 in after-hours trading on the stock market today.
The company’s tools automate the electronic filing of contracts and digital certificates. Its software prepares agreements and certifies electronic signatures.
DocuSign Revenue Outlook Above Views
For the April quarter, it expects revenue in a range of $205 million to $210 million. Analysts had projected revenue of $198 million.
For fiscal 2020, DocuSign said it expects revenue in a range of $910 million to $915 million vs. analyst consensus of $862 million.
The software maker raised $629 million in its May 2018 initial public offering, with shares priced at $29.
DocuSign on Aug. 1 acquired SpringCM for $220 million.
Rivals include Adobe Systems (ADBE) as well as startup HelloSign.
Follow Reinhardt Krause on Twitter @reinhardtk_tech
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