DocuSign stock falls despite results beating estimates, as CFO exit announced

DocuSign Inc.
DOCU,
-1.90%
shares fell about 3% after hours, after falling less than 2% in the regular session to close at $64.41 on Thursday, despite beating Wall Street estimates for its results and outlook. The electronic signature solutions company reported fourth-quarter net income of $4.86 million, or 2 cents a share, compared with a loss of $30.45 million, or 15 cents a share, in the year-ago period. Adjusted earnings were 65 cents a share, adjusted for stock-based compensation and other costs. Revenue rose to $659.6 million from $564 million in the year-ago quarter. Analysts surveyed by FactSet had forecast adjusted earnings of 52 cents a share on revenue of $640.8 million. For the first quarter, the company expects revenue of $639 million to $643 million, while analysts expect $639.8 million. The company also announced that Chief Financial Officer Cynthia Gaylor is stepping down, and that the company is looking for a replacement. In a statement, the company said “Gaylor’s planned departure is not a result of any disagreement regarding the company’s financial statements or disclosures.”