DocuSign stock pops on earnings, outlook beat
Tiger Newspress2021-06-04
DocuSign Inc.DOCU shares rallied in the extended session Thursday after the digital agreement company’s quarterly results and outlook surpassed Wall Street expectations.
DocuSign shares surged 6% after hours, following a 2.9% decline in the regular session to close at $194.75.
The company reported a first-quarter loss of $8.4 million, or 4 cents a share, compared with $47.8 million, or 26 cents a share, in the year-ago period. Adjusted earnings, which exclude stock-based compensation expenses and other items, were 44 cents a share, compared with 12 cents a share in the year-ago period. Revenue rose to $469.1 million from $297 million in the year-ago quarter.
Analysts surveyed by FactSet had forecast 28 cents a share on revenue of $437.6 million. DocuSign forecast revenue of $479 million to $485 million for the second quarter, and $2.03 billion to $2.04 billion for the year. Analysts had estimated revenue of $474.2 million for the second quarter, and revenue of $1.99 billion for the year.
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