DocuSign shares jump on a swing to profit in Q2

September 07, 2023 02:03 PM PDT | By Invezz

DocuSign shares jump on a swing to profit in Q2 — Image source: Invezz

DocuSign shares rewarded for upbeat guidance

Investors are happy also because the management raised its guidance for the full year.

DocuSign now forecasts its revenue to fall between $2.73 billion and $2.74 billion in fiscal 2024. Analysts, in comparison, were at $2.72 billion. Allan Thygesen – its Chief Executive said today in a press release:

Our results for the first half were solid and reflect strong progress on our business transformation.

Note that the Nasdaq-listed firm laid off 10% of its workforce this year to cut costs (find out more). On Thursday, its updated revenue guidance for the current quarter also topped Street estimates. DocuSign shares have now gained more than 15% in about two weeks.

Notable figures in DocuSign Q2 earnings report

Earned $7.4 million that translates to 4 cents per share
Had $45.1 million loss or 22 cents per share a year ago
Adjusted EPS printed at 72 cents as per the press release
Revenue jumped 10.5% year-on-year to $687.7 million
Consensus was 66 cents a share on $677.6 million revenue

DocuSign also received authorisation for another $300 million in stock repurchase from its board today. According to CEO Thygesen:

We increased our pace of innovation, while strengthening our self-service and partner distribution channels. We’ve received enthusiasm on our product roadmap, particularly from enterprise customers.

Wall Street currently has a consensus “hold” rating on DocuSign shares.

The post DocuSign shares jump on a swing to profit in Q2 appeared first on Invezz.

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media LLC (Kalkine Media, we or us) and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures/music displayed/used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it, as necessary.