DocuSign's sterling quarter pushes its stock up 11%
By Jon Swartz
DocuSign Inc.'s stock jumped 11% higher in extended trading Thursday after the company racked up quarterly results that dusted analysts' revenue and earnings estimates, as well as offering strong revenue guidance.
The electronic-signature company (DOCU) reported fiscal fourth-quarter net income of $27.2 million, or 13 cents a share, compared with net income of $4.9 million, or 2 cents a share, in the same quarter a year ago. Adjusted earnings were 76 cents a share.
DocuSign's sales climbed 8% to $712.4 million from $659.6 million in the same quarter a year ago.
Analysts surveyed by FactSet had expected on average net income of 65 cents a share on revenue of $698 million.
DocuSign provided first-quarter sales guidance of $704 million to $708 million, while FactSet analysts are forecasting $701 million.
Shares of DocuSign have sunk 17% over the past year, while the broader S&P 500 index SPX has surged 32%.
-Jon Swartz
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03-07-24 2016ET
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