DocuSign Shares Fall More Than 40% as Customer Behavior Shifts

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DocuSign Inc.’s shares sank 42% on Friday after the company warned that consumers were returning to more normalized buying patterns with the widespread rollout of Covid-19 vaccines and the gradual return to the workplace.

The e-signature software maker missed on a key earnings metric during the October quarter, pulling in $565.2 million in billings, falling short of its prior guidance between $585 million and $597 million. Billings reflects new-customer sales, subscription renewals and add-on sales for existing customers, the company said.

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