: DocuSign stock rallies more than 10% on earnings beat, outlook

DocuSign Inc. DOCU shares rallied in the extended session Thursday after the e-signature company’s quarter and outlook surpassed Wall Street expectations. DocuSign shares surged as much as 14% after hours, following a 2.2% gain to close the regular session at $58.48. The company reported fiscal first-quarter net income of $539,000, or break-even per share, versus a loss of $27.3 million, or 14 cents a share, in the year-ago period. Adjusted earnings, which exclude one-time charges and stock-based compensation charges, nearly doubled to 72 cents a share from 38 cents a share in the year-ago period. Revenue rose to $661.4 million from $588.7 million in the year-ago period. Analysts surveyed by FactSet had forecast 56 cents a share on revenue of $641.7 million. The company forecast revenue of $675 million to $679 million for the July-ending quarter, and $2.71 billion to $2.73 billion for the year. Analysts had estimated $667.7 million for the fiscal second quarter, and $2.7 billion for the year.

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