DocuSign
stock fell Friday as the electronic-signature company flagged ongoing macroeconomic pressures despite delivering an earnings beat and guidance hike.
The shares, which initially rose in premarket trading, were 3.8% lower in early trading.
The company reported adjusted earnings of 72 cents per share on revenue of $687.7 million in the second quarter. Analysts were expecting 66 cents per share on sales of $677.6 million. It now expects full-year revenue to be between $2.73 billion and $2.74 billion, up from an earlier forecast of between $2.71 billion and $2.73 billion.
DocuSign
(ticker: DOCU) managed to beat expectations, and even improve its outlook despite the challenging macro environment.
“While we are pleased with our results, like many others, we’re seeing continued macro pressures tempering expansion rates,” CEO Allan Thygesen said on the company’s earnings call.
He added that DocuSign remained “focused on what we can control,” implementing its initiatives to drive innovation and operational efficiency.
Write to Callum Keown at callum.keown@barrons.com
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