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Published Thu, Jun 3 2021 6:52 PM EDTUpdated Thu, Jun 3 2021 7:29 PM EDT
Kevin Stankiewicz@kevin_stank
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DocuSign reported first-quarter results that topped analysts' expectations on the top and bottom lines.
The e-signature company also issued strong guidance for the second quarter and raised its full-year outlook.
DocuSign said its results were driven by increased demand for its Agreement Cloud products and expansion into new industries.
DocuSign shares surged as much as 10% in extended trading on Thursday after the company reported better-than-expected fiscal first-quarter results and gave strong forward guidance.
Here's how the company did:
Earnings: 44 cents per share, adjusted, vs. 28 cents per share as expected by analysts, according to Refinitiv.
Revenue: $469.1 million vs. $437.8 million as expected by analysts, according to Refinitiv.
DocuSign also raised its guidance for the full fiscal year, which ends in January. The company now expects between $2.027 billion and $2.039 billion in revenue, representing growth of 43% to 44% year over year. It previously forecast between $1.996 billion and $2.018 billion in revenue.
In the fiscal second quarter, DocuSign expects between 43 cents and 45 cents in adjusted earnings per share on $481 million to $487 million in revenue. Analysts polled by Refinitiv had expected 35 cents in adjusted earnings per share on $461.9 million in revenue.
The stock, which closed at $241.68 per share, rose more than 10% after the announcement. The stock is up about 40% year to date.
Executives will discuss the results on a conference call with analysts starting at 5 p.m. Eastern time.
This story is developing. Please check back for updates.
Published Thu, Jun 3 2021 6:52 PM EDTUpdated Thu, Jun 3 2021 7:29 PM EDT
Kevin Stankiewicz@kevin_stank
Share