Here's What Key Metrics Tell Us About DocuSign (DOCU) Q2 Earnings

Core Insights - DocuSign reported revenue of $736.03 million for the quarter ended July 2024, reflecting a 7% increase year-over-year and surpassing the Zacks Consensus Estimate of $726.15 million by 1.36% [1] - The company's EPS was $0.97, up from $0.72 in the same quarter last year, exceeding the consensus EPS estimate of $0.80 by 21.25% [1] Financial Performance Metrics - Non-GAAP billings reached $724.51 million, slightly above the six-analyst average estimate of $720.57 million [3] - Total customers remained stable at 1.6 million, matching the average estimate based on two analysts [4] - Revenue from professional services and other was $18.66 million, below the average estimate of $19.41 million, but showed a year-over-year increase of 1.9% [5] - Subscription revenue was reported at $717.37 million, exceeding the average estimate of $706.75 million, with a year-over-year growth of 7.2% [6] - Non-GAAP subscription gross profit was $604.25 million, surpassing the six-analyst average estimate of $591.58 million [7] - Non-GAAP professional services and other gross profit was $0.79 million, significantly better than the average estimate of -$2.40 million [8] Stock Performance - Over the past month, DocuSign shares have returned +12.5%, outperforming the Zacks S&P 500 composite's +3.4% change [8] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [8]