05.09.2019 23:16:58

DocuSign Shares Surge 20% On Strong Outlook

(RTTNews) - Shares of DocuSign Inc. (DOCU) surged over 20% on extended trading session Thursday after the company detailed a strong outlook for the third quarter.

DocuSign's second-quarter net loss widened to $68.6 million or $0.39 per share from $36.7 million or $0.22 per share last year.

Adjusted earnings for the quarter were $0.01 per share, down from $0.03 per share last year. Analysts polled by Thomson Reuters estimated earnings of $0.04 per share for the quarter.

Second-quarter revenues rose 41% to $235.6 million from $167.0 million last year. Analysts had a consensus revenue estimate of $220.93 million for the quarter.

Subscription revenues increased 39% to $220.8 million, while Professional services and other revenue rose 72% to $14.8 million.

"With revenue growth exceeding 40% and billings growth at 47%, our second quarter performance reflects our clear leadership position in e-signature and increasing adoption of our broader Agreement Cloud offering," said Dan Springer, CEO of DocuSign.

Looking forward to the third quarter, the company expects revenues of $237 million to $241 million. Analysts currently estimate revenues of $232.05 million for the quarter.

For the full year, the company expects revenues of $947 million to $951 million. Analysts currently estimate revenues of $920.43 million.

DOCU closed Thursday's trading at $46.25, down $0.60 or 1.28%, on the Nasdaq. The stock, however, rose $10.09 or 21.82% in the after-hours trade.

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DocuSign Inc Registered Shs 91,24 2,32% DocuSign Inc Registered Shs