DocuSign Q1 results top estimates; stock jumps
Investing.com -- DocuSign (NASDAQ:DOCU) reported Thursday fiscal first-quarter results that topped estimates as an increase in billings bolstered performance.
DocuSign was up more than 7% in premarket trading following the report.
The software company reported Q4 adjusted EPS of $0.72 on revenue of $661.4 million, topping consensus estimates for EPS of $0.55 on revenue of $641.7M.
Gross margin was 79%, up from 78% in the same period last year.
Billings were $674.8M in Q1, an increase of 10% year-over-year.
Looking ahead to Q2, the company forecasts revenue in the range of $675M to $679M, in line with estimates of $668.1M, with billings expected to come in between $646M and $656M.
For the year, revenue was guided in a range of $2.71B to $2.73B, just above consensus estimates of $2.70B, while billings were expected between $2.74B and $2.75B.
"With sales execution woes and macro uncertainty ahead, we see potential for [DocuSign] to outperform its [fiscal year 2024] outlook, particularly on margins," analysts at Wolfe Research said in a note.
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