DocuSign Q3 CY2024 Revenue Raises Guidance for Next Quarter
With revenues growing 7.8% year over year to $754.8 million, e-signature company DocuSign (DOCU) published Q3 CY2024 earnings that exceeded market revenue estimates. Revenue guidance for the upcoming quarter was 0.5% higher than experts had predicted, at $760 million at the midpoint. At $0.90 per share, its non-GAAP profit exceeded analysts’ consensus projections by 3%.
Digital Transformation Principle Fuels DocuSign’s Growth Despite Falling Short of Industry Standards
Originally, the motto digital transformation described the digitization of papers in businesses. The proliferation of digital documents has led to a surge in collaboration both within and between companies, hence increasing the need for content management systems and e-signature technology.
Long-term sales performance is a good indicator of a company’s overall quality. A poor company may be successful for a quarter or two, but a great company thrives for years. The compound annual growth rate of DocuSign’s sales over the past three years has been 14.2%. Even while this growth is strong in absolute terms, it did not meet the software industry‘s benchmark.
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