DocuSign Rises on Q3 Earnings Beat

Shares of DocuSign  (DOCU) – Get Report were rising Thursday afternoon after the cloud-based electronic signature solutions firm reported quarterly results that handily beat consensus analyst estimates.

For its fiscal third quarter ending in October, DocuSign earned non-GAAP net income of $0.22 per share, compared to expectations of $0.13 per share and results of $0.11 in the same period last year.

Shares were rising 7.1% to $247.13 in after-hours trading, after having risen 6.1% during the day’s trading.

Total quarterly revenue was $382.9 million, an increase of 53% year over year, compared to expectations for $361.2 million. Subscription revenue grew 54% year over year to $366.6 million, and professional services and other revenue increased 43% to $16.3 million.

“As companies accelerate the digital transformation of their business and agreement processes, DocuSign’s role as an essential cloud platform continues to grow,” said Dan Springer, DocuSign CEO. “Our Q3 results

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Walmart beat Amazon on Black Friday by one important metric

Volumes of future marketing analysis will surely be written about this year’s unprecedented holiday shopping season, but for now we’ll have to make do with industry reports that reveal people’s pandemic-era spending habits in dribs and drabs.

The latest drib (or drab?) comes from analytics firm Sensor Tower, whose new dispatch shows a record surge in new downloads of shopping-related mobile apps. Black Friday alone saw more than 2.8 million first-time installs of shopping apps, the largest ever in a single day, according to Sensor Tower’s preliminary estimates. Year-over-year growth, the report says, was about the same as last year at 8%, but it was more substantial when you look at the entire month of November—with 59.2 million shopping app installs compared to 51.7 million for the same period last year.

However, things get even more interesting when you look at the top 10 apps. Amazon may be the largest

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Zoom Video Drops Despite Q3 Beat, Strong Guidance

Shares of Zoom Video Communications  (ZM) – Get Report dropped 5% after-hours Monday following the company’s fiscal third quarter earnings release. 

The San Jose-based company reported quarterly earnings of 99 cents per share on revenue of $777.2 million. Analysts were expecting Zoom to report earnings of 76 cents per share with revenue of $693.95 million. 

“We remain focused on the communication needs of our customers and communities as they navigate the current environment and adapt to a new world of work from anywhere using Zoom,” said founder and CEO Eric Yuan in a statement. “Strong demand and execution led to revenue growth of 367% year-over-year with solid growth in non-GAAP operating income and cash flow in our third fiscal quarter.”

For the fiscal fourth quarter, the company expects revenue between $806 million and $811 million with earnings between 77 cents and 79 cents per share. Analysts are expecting

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VMware Post Third-Quarter Earnings Beat, Raises Guidance

 VMware  (VMW) – Get Report the cloud-computing major controlled by Dell Technologies  (DELL) – Get Report, reported better-than-expected third-quarter earnings Tuesday and raised its full year guidance.

VMware reported net income of $704 million, or $1.66 per share, up from $602 million, or $1.42 per share a year ago. FactSet’s consensus called for earnings of $1.44 per share.

Revenue totaled $2.86 billion, up 8% a year ago and surpassing FactSet’s consensus of $2.81 billion.

The combination of subscription and Software as a Service (SaaS) and license revenue came to $1.32 billion, an increase of 10% from a year ago. Subscription and SaaS revenue was $676 million, the company said, an increase of 44% year-over-year, representing 24% of total revenue.

“Subscription and SaaS revenue increased 44% year-over-year in Q3 and surpassed license revenue for the first time,”  Zane Rowe, executive vice president and chief financial officer,

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(U), Autodesk, Inc. (NASDAQ:ADSK) – Unity Software Could Beat Q4 Revenue Guidance, Survey Says

Loup Ventures, the venture capital firm founded by former Wall Street tech analyst Gene Munster, recently surveyed Unity Software (NYSE: U) developers to get insight on possible increased revenue for the company going forward.

What The Survey Showed: The survey showed that 81% of Unity developers plan on spending more with Unity over the next 12 months. Unity Pro and Enterprise users were even more likely to add additional subscriptions over the next 12 months, with 95% expected to add subscription seats.

The survey also showed a higher attach rate of 4.1 additional Unity operate solutions added to accounts. Loup Ventures was expecting this figure to be in the low 3s. Operate solutions are typically monetized on a pay per usage basis according to Loup.

Unity competes with the Unreal Engine, owned by Epic Games, a Tencent Holdings (Pink: TCEHY) company. The survey showed that the platform of choice is

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How Airbnb Beat The Covid-19 Virus

Going into 2020, Airbnb was growing at a rapid pace and aggressively expanding into new categories. So what could possibly go wrong?

Well, within a couple months, the Covid-19 pandemic would shutdown the travel industry. And suddenly Airbnb was facing an existential crisis. 

By April, the gross bookings for nights and experiences plunged by 72% on a year-over-year basis. In fact, from March to April, there were more cancellations than bookings!

While the situation was certainly dire, the management team wasted little time in pursuing a major restructuring.  The result was that—over time—the business started to improve. By June, there was actually a 1% increase in gross bookings.

Now this is not to say that the business is no

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Workday Drops Despite Q3 Beat: What Wall Street Is Saying

Shares of accounting software maker Workday  (WDAY) – Get Report dropped premarket Friday following its third quarter earnings release despite topping earnings and revenue estimates as the company also issued weak guidance for 2021. 

The company said it expects software demand to continue to come under pressure in 2021 due to the coronavirus pandemic. 

Shares fell 3.5% to $222.80 in premarket trading Friday.

Here’s what Wall Street is saying about Workday:

Barclays (Equal Weight rating maintained, PT lowered to $234 from $238)

The big debates for investors post a healthy Q3 will be how conservative guidance is, especially around Q4 subscription backlog growth (14-16% YoY vs 20% plus so far this year), and how this year’s bookings numbers translate into next year’s subscription revenue. We believe that there was a fair amount of investor excitement going into earnings that a healthy Q3 would translate into positive estimate revisions

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Nvidia Shows Volatility After-Hours Despite Q3 Beat

Shares of Nvidia  (NVDA) – Get Report were volatile after hours Wednesday despite the chipmaker reporting October (fiscal third quarter) results that topped analyst estimates for the period. 

TheStreet is live-blogging Nvidia’s Oct. quarter earnings report and call. Please join us!

The Santa Clara-based company reported third quarter revenue of $4.73 billion, a 57% year over year increase, with earnings per share of $2.91. Analysts polled by FactSet were expecting Nvidia to report revenue of $4.41 billion on earnings of $2.57 per share. 

“NVIDIA is firing on all cylinders, achieving record revenues in Gaming, Data Center and overall,” said Jensen Huang, founder and CEO of NVIDIA, in a statement. “The new NVIDIA GeForce RTX GPU provides our largest-ever generational leap and demand is overwhelming. NVIDIA RTX has made ray tracing the new standard in gaming.”

Shares were down 0.2% to $535.95 after-hours Wednesday at last check. 

The company’s

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Unity Software Jumps After Loss Widened, Revenue Beat

Unity Software  (U) – Get Report shares climbed after the videogame publisher, in its first report as a public company, posted a wider-than-expected third-quarter net loss and revenue beat estimates.

Shares of the San Francisco publisher of games including “Lego Microgame” and “Fall Guys” at last check moved up 8.1% to $110.

The software company’s net loss widened to $144.5 million, or 97 cents a share, from a loss of $45.7 million, or 75 cents, in the year-earlier period.

Revenue jumped 53% to $200.8 million from $130.9 million. 

A survey of analysts by FactSet produced consensus estimates of a GAAP net loss of 33 cents a share, or an adjusted loss of 15 cents, on revenue of $186.9 million.

Customers that generated more than $100,000 of revenue increased to 739 from 553 a year earlier.

“Our robust growth has reinforced our confidence in the fundamental strength of our

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Cisco Profit Beat Prompts Analysts to Nudge Up Price Targets

Shares of Cisco  (CSCO) – Get Report gained on Friday after the communications equipment maker posted better-than-expected fiscal first-quarter earnings and sales, spurring several analysts to raise their one-year price targets on the company’s stock.

Cisco shares were up more than 7% in premarket trading after the company said it earned 76 cents a share in its fiscal first quarter, above consensus forecasts of 70 cents. Sales fell 9.6% to $11.9 billion, though came in slightly above analysts’ forecasts.

The results coupled with an “improved tone” from management on the company’s accompanying conference call prompted several Wall Street analysts to adjust their one-year price targets on Cisco slightly upward.

Piper Sandler analyst James Fish edged his one-year price target to $45 from $44 on what he described as a “low quality beat” on “better than feared” results, while RBC Capital Markets analyst Robert Muller raised his one-year target

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