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DocuSign Reports Stronger-Than-Expected Adjusted Profit; Shares Rise

DocuSign's adjusted profit registered 12 cents a share in the quarter ended April 30, surpassing analysts' forecast of 10 cents.
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DocuSign  (DOCU) - Get DocuSign, Inc. Report shares rose in after-hours trading Thursday, after the e-signature company reported stronger-than-expected adjusted profit and revenue for its latest quarter amid the coronavirus pandemic.

In the fiscal 2021 first quarter ended April 30, DocuSign posted revenue of $297 million, up 39% from $214 million in the year-earlier period. That was well above FactSet’s analyst forecast of $281 million for the latest quarter.

DocuSign registered a net loss of $47.804 million, or 26 cents per share, in the latest quarter, compared to a $45.722 million loss, or 27 cents a share, a year ago. Analysts predicted a loss of 23 cents in the most recent quarter.

DocuSign enjoyed adjusted net income per share of 12 cents in the latest quarter, up from 7 cents a year earlier. The 12-cent figure also beat analysts’ estimate of 10 cents a share.

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"Our strong first-quarter results reflect our ability to help organizations accelerate their digital transformation as they adapt to the changing business environment, magnified by Covid-19,” DocuSign CEO Dan Springer said in a statement.

“Many are taking their first steps with us, while others are expanding their initiatives. Led by eSignature, our Agreement Cloud offerings are not only helping customers carry on with business in this time of crisis, but will continue to deliver value as the world emerges from it."

DocuSign shares stood at $144.76, up 3.4% in after-hours trading. The stock fell 5.01% during regular trading Thursday. It has soared 63% over the past three months through Thursday’s close, compared to a 4% rise for the S&P 500.