Why DocuSign Stock Got Shredded on Friday
Shares of DocuSign (NASDAQ: DOCU) were crushed in early trading Friday, plunging as much as 41.4%. As of 10:42 a.m. ET, the stock was still down 40.4%.
The catalyst that crushed the e-signature provider was its latest financial report. While DocuSign's revenue and earnings beat estimates, several factors suggest rapidly decelerating revenue growth.
For its fiscal 2022 third quarter (ended Oct. 31), DocuSign delivered revenue of $545.5 million, up 42% year over year, driven by subscription revenue of $528.6 million, up 44%. This resulted in adjusted earnings per share (EPS) of $0.58, surging 163% from EPS of $0.22 in the prior-year quarter.
Source Fool.com
