DocuSignShares fell by as high as 17% during extended trading Thursday, after electronic signature software vendor posted weaker-than expected earnings for its fiscal first quarter.

This is how it worked:

• Earnings:Adjusted 38c per share vs. 46c per share expected by analysts according to Refinitiv.
• Revenue:Analysts expected $588.7million, while Refinitiv estimates $581.8million.

According to DocuSign, DocuSign saw a 25% increase in revenue for the fourth quarter that ended April 30. statement.

DocuSign is losing its focus on profitability and growth as investors begin to shift from an emphasis on growth. According to Thursday’s close of trading, DocuSign shares are down 43% for the year. This is in line with the overall cloud software industry.

DocuSign forecasted revenue between $600 million and $604 million for the second quarter. At $602 million the middle was close to the Refinitiv consensus at $601.7 million.

DocuSign’s revenue for 2023 is expected to be between $2.47 billion and $2.48 trillion, which compares with the Refinitiv consensus of $2.479 million.

This week, DocuSign was launched earlier. announcedAn expansion of the partnership Microsoft.

The conference call will be held with analysts at 4:30 pm and executive members will discuss the results. ET.

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