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DocuSign shares rise after e-signature group's quarterly results top estimates

Investing.com -- Shares in DocuSign (NASDAQ:DOCU) edged higher in premarket U.S. trading on Friday after the e-signature provider posted better-than-anticipated second-quarter results and improved its annual sales guidance.

The San Francisco-based company reported adjusted earnings per share of $0.72 in the three months ended on July 31, up from $0.44 in the same period last year and above Bloomberg consensus estimates of $0.66. Revenue surged by 11% year-on-year to $687.7 million, also topping forecasts, thanks in part to growth in subscription sales.

DocuSign lifted its revenue outlook for its 2024 fiscal year, with the top-line total now seen at $2.73 billion to $2.74 billion. It previously projected full-year revenue of between $2.71B to $2.73B, while analysts had called for $2.72B.

In a note to clients, analysts at Wolfe Research flagged that DocuSign faces risks from "sales execution woes and macro uncertainty," but added that they see "potential" for the firm to outperform its 2024 forecasts.

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