DocuSign rises 19% on revenue beat and strong guidance

FAN Editor

DocuSign CEO Dan Springer.

Source: DocuSign

Shares of enterprise cloud company DocuSign shot up about 19% Friday morning after the company reported better-than-expected revenue and strong guidance.

The rally added about $1.5 billion to the company’s market cap, bringing it to $9.6 billion.

For its second quarter of 2020, DocuSign reported $236 million in revenue, well above the Refinitiv consensus estimate of $221 million.

The company also provided strong guidance for the third quarter and full fiscal year. Raising its outlook for the full year 2020, DocuSign now expects total revenue to fall between $947 million and $951 million. Previously, the company said it expected full-year revenue to fall between $917 million and $922 million.

DocuSign fell short of expectations for earnings, however, reporting 1 cent in adjusted earnings per share compared with analyst estimates of 4 cents per share, according to Refinitiv.

Subscribe to CNBC on YouTube.

WATCH: DocuSign CEO on automating agreements and blockchain

Free America Network Articles

Leave a Reply

Next Post

'We lost everything': Dorian closes in on North Carolina farmers still recovering from Florence

File photo of workers using farm machinery to navigate floodwaters from the Waccamaw River caused by Hurricane Florence on September 26, 2018 in Bucksport, South Carolina. Farmers brace for more flooding as Hurricane Dorian barrels down on the Carolinas. Sean Rayford | Getty Images News | Getty Images Days after […]

Subscribe US Now