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Investing.com — DocuSign Inc (NASDAQ:DOCU) announced earnings per share of 58 cents on revenue of $545.5 million. Analysts polled by Investing.com anticipated EPS of 46 cents on revenue of $532.61 million.
DocuSign shares have plunged following the report, falling over 22%.
Billings were $565.2 million, representing an increase of 28% year-over-year, with subscription revenue coming in at $528.6 million, an increase of 44% year-over-year.
“Third quarter revenue growth of 42% year-over-year and operating margin of 22% exceeded our expectations. After six quarters of accelerated growth, we saw customers return to more normalized buying patterns, resulting in 28% year-over-year billings growth,” said Dan Springer, CEO of DocuSign.
“With a $50 billion TAM and 1.11 million customers worldwide, we are confident in the value DocuSign delivers in an increasingly digital anywhere economy.”
Looking ahead, the company said it sees fourth quarter revenue between $557 million and $563 million, below the $573.79 million consensus, while fiscal year 2021 revenue is anticipated between $2.083 billion and $2.089 billion.
