By Davit Kirakosyan

DocuSign Inc. (NASDAQ:) shares dropped more than 14% after-hours following the company’s reported , with EPS of $0.38 coming in worse than the consensus estimate of $0.46. Year-over-year revenue increased 25% to $588.7 Million, as compared with the consensus estimate (581.71million).

The subscription revenue grew by 26%, to $569.3M. Professional services revenue grew 14% annually to $19.4million. Billings rose 16% annually to $613.6million.

According to consensus estimates of $601.7 million, the company will see Q2/23 revenues in the $600-604 range.

The revenue for 2023 is estimated to range from $2.47-2.48billion, as opposed to $2.48billion, according to consensus estimates.

DocuSign’s shares fell 43% in the year to date going into these results.