DocuSign and RH earnings: After-hours movers
Yahoo Finance Live anchor Seana Smith examines shares of DocuSign (DOCU) — which is rising after topping its second-quarter earnings estimates — and RH — which is sliding on its guidance despite beating on earnings and revenue — during Thursday's after-hours trading session.
Video Transcript
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SEANA SMITH: Let's take a look at a two stocks trending after-hours, DocuSign and RH. First, starting with DocuSign, up just about 3% here in extended trading. We're looking at a pretty strong report here from the company. DocuSign raising its full year revenue forecast, beating on both the top and bottom lines. The company also expanding its buyback program by $300 million to a total of $500 million. The solid results here despite the pullback that we've seen in spending from medium and small-sized businesses.
And taking a look at the chart if we're able to pull it up. DocuSign here has been on an OK run over the last couple of months. And taking a look at a three-month chart, you're actually looking at losses of just about 8%. We did see a bit of a run up here into this report. On one month, you're looking at just about 1%, so more of a steady climb here over the last week or two.
And also taking a look at RH, the company, they're reporting results that, obviously, the Street is taking issue with. The shares off almost 9% here in extended trading. Revenue and earnings did beat. But what the Street is taking issue with is its guidance and some of the commentary in this shareholder letter from the CEO, saying that many of the challenges with the broader economy, he sees that remaining to be the case here for the remainder of this year and also in to 2024.
He talked about the highest mortgage rate that we've seen in just about 20 years with rates remaining above 7%. He sees that as a headwind here for the company. Now RH is up just about 37% over the last three months. Year-to-date, we're looking at pretty much a similar gain here, so well off the lows that we saw earlier this year right around May.
So again, a strong report from DocuSign. But RH, some weakness there, and we're seeing that stock move to the downside in extended trading.
