DocuSign (NASDAQ: DOCU) stock plunged 23% during the after-hours session on June 9 following the release of its first-quarter earnings report. The e-signature and contract management services provider reported revenue growth of 25% year over year to $588.7 million, which beat analysts' expectations by $6.8 million.
However, its adjusted net income declined 16% to $77.5 million, or $0.38 per share, falling eight cents short of the analyst consensus. On a generally accepted accounting principles (GAAP) basis, its net loss more than tripled from $8.4 million to $27.4 million.
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Source Fool.com