DocuSign Beats Across the Board, Stock Surges
DocuSign (NASDAQ: DOCU) reported results for its fiscal 2022 first quarter (ended April 30, 2021), and investors liked what they saw, sending the stock up as much as 6% in after-hours trading. Revenue of $469 million climbed 58% year over year, eclipsing analysts' consensus estimates of roughly $438 million. Revenue accelerated both year over year and on a sequential basis, illustrating the strength of its growing business.
The top-line growth was powered by subscription revenue that grew 61% to $452 million, or 96% of total sales. Professional-services revenue of $17 million edged 7% higher. Billings, a sales growth metric that factors in changes in deferred subscription revenue, grew 54% to $527 million.
Image source: DocuSign.
Source Fool.com
