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DocuSign (NASDAQ: DOCU) shares slump as weak guidance takes edge off fiscal Q1 earnings beat

  • San Francisco-based company posts non-GAAP EPS of $0.07
  • Expects $218-$200M revenue for the current quarter
  • Shares retreat 16.62% to $45.64

DocuSign (NASDAQ: DOCU) posted a fiscal Q1 earnings beat on Friday but an investor sell-off prompted by disappointment at Q2 guidance pushed shares 17% lower.

The digital signature software company delivered non-GAAP EPS of $0.07, or $13.5 million, which was 2 cents ahead of expectations. Strong subscription revenue also helped revenue to climb to $214 million.

However, projected revenue of up to $222 million failed to ignite any enthusiasm as investors honed in on a slower paced growth of billings. Shares are set to open $9.10 lower at $45.64.