DocuSign (DOCU) Shares Fall Despite Beat and Raise Q2

DocuSign Inc. (NASDAQ: DOCU) reported Q2 results, with EPS of $0.47 and revenue of $511.8 million, both beating the consensus estimates of $0.40 and $487.5 million, respectively.

Total revenue grew 50% year-over-year, with subscription revenue coming in at $492.8 million, representing 52% growth year-over-year.

Billings were $595.4 million, an increase of 47% year-over-year.

Despite the strong quarterly beat the company’s shares are trading more than 2% lower after-hours.

The company expects Q3 revenue to range from $526-532 million, better than the consensus estimate of $520.62 million. For the full 2022-year, the company projects revenue of $2.078-2.088 billion, above the Street estimate of $2.05 billion.

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