DocuSign CEO Dan Springer.
Provenience: DocuSign
Shares of enterprise cloud company DocuSign shot up 21.7% Friday after the company reported better-than-expected receipts and strong guidance.
The rally added about $1.7 billion to the company’s market cap, bringing it to $9.8 billion.
For its other quarter of 2020, DocuSign reported $236 million in revenue, well above the Refinitiv consensus estimate of $221 million.
The house also provided strong guidance for the third quarter and full fiscal year. Raising its outlook for the full year 2020, DocuSign now keep in views total revenue to fall between $947 million and $951 million. Previously, the company said it expected full-year receipts to fall between $917 million and $922 million.
DocuSign fell short of expectations for earnings, however, scrutinizing 1 cent in adjusted earnings per share compared with analyst estimates of 4 cents per share, according to Refinitiv.
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