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What happened
Shares of DocuSign (NASDAQ: DOCU) jumped on Friday, rising as much as 23.9%. As of 10:30 AM EDT, the stock was up about 20%. The stock's gain follows the e-signature and electronic-document specialist's second-quarter results of fiscal 2020.
Bullishness is more likely to be related to the company than it is to be.
Image source: Getty Images.
So what
DocuSign reported second-quarter revenue of $ 235.6 million, up 41% year over year. On average, analysts had been expecting revenue of $ 220.9 million. Non-GAAP (adjusted) earnings per share for the period were $ 0.01, down from $ 0.03 in the year-ago period and below analysts' average forecast for adjusted earnings per share of $ 0.04.
"With revenue growth exceeding 40% and growth growth at 47%, our clear leadership position in e-signature and increasing adoption of our wider Cloud Offering Agreement," said DocuSign CEO Dan Springer in the company's second-quarter earnings release.
Now what
The tech company's outlook was strong. Management said it was expected to be $ 237 million and $ 241 million – ahead of a consensus analyst forecast for $ 232 million. The company also reported its full-year outlook, with management guidance for fiscal 2020 revenue between $ 947 million and $ 951 million, up from $ 917 million and $ 922 million.
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Daniel Sparks has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends DocuSign. The Motley Fool has a disclosure policy.
This article was originally published on Fool.com
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