Docusign Inc docu Stock Soars Following Strong Q1 Financial Results

DocuSign, Inc. (DOCU) Stock Soars Following Strong Q1 Financial Results

Shares of DocuSign, Inc. (NASDAQ: DOCU) surged more than 4% in after-hours trading on Thursday. This remarkable surge comes after the e-signatures company released impressive financial results for the fiscal first quarter ended April 30.

DocuSign reported a net income of $539,000, or less than 1 cent per share. After adjusting for one-time gains and costs, earnings stood at an impressive 72 cents per share.

These results exceeded the expectations of Wall Street analysts. According to a survey conducted by Zacks Investment Research, the average estimate for earnings per share was 53 cents. Furthermore, DocuSign’s revenue for the quarter reached $661.4 million, surpassing the forecasted $641.1 million.

Looking ahead, DocuSign provided a positive outlook for the next quarter and the fiscal year. For the current quarter ending in July, the company anticipates revenue to fall within the range of $675 million to $679 million. Moreover, DocuSign expects full-year revenue to be in the range of $2.71 billion to $2.73 billion for the fiscal year ending January 2024.