08:10 AM EDT, 06/07/2024 (MT Newswires) -- (Adds details on share repurchase size and billings outlook in the sixth and seventh paragraphs; updates stock movement in headline and story.)

DocuSign ( DOCU ) reported fiscal Q1 non-GAAP earnings late Thursday of $0.82 per diluted share, up from $0.72 a year earlier.

Analysts polled by Capital IQ expected $0.79.

Revenue for the quarter that ended April 30 was $709.6 million, up from $661.4 million a year earlier.

Analysts surveyed by Capital IQ expected $707.4 million.

The company expects fiscal Q2 revenue of $725 million to $729 million and full-year sales of $2.92 billion to $2.93 billion. Analysts polled by Capital IQ expect $726.7 million and $2.93 billion, respectively.

Meanwhile, an increase of $1 billion to an ongoing share buyback program was authorized, DocuSign ( DOCU ) said. The upsized repurchase program has no mandated end date.

In an investors' call, DocuSign ( DOCU ) said it expects to post $715 million to $725 million in fiscal Q2 billings, citing variability in the timing of customer renewals. It previously said that Q2 is anticipated to have the lowest year-on-year increase in billings throughout fiscal 2025.

Shares of the company were down 7% in recent Friday premarket activity.

Price: 50.77, Change: -3.83, Percent Change: -7.02