DocuSign Inc (NASDAQ: DOCU) was up 17% in the stock market on Friday as the company reported financial results for the first quarter that topped Wall Street estimates.
DocuSign’s Q1 financial results
DocuSign reported $8.4 million (£5.93 million) of loss in the fiscal first quarter that translates to 4 cents per share. In the same quarter last year, its loss stood at a higher $47.8 million or 26 cents per share.
On an adjusted basis, the San Francisco-based company earned 44 cents per share versus the year-ago figure of 12 cents per share. DocuSign generated $469.1 million of revenue in Q1 – an increase from $297 million last year. In the prior quarter (Q4), its revenue had jumped 57%.
According to FactSet, experts had forecast the company to post $437.6 million of revenue and 28 cents of adjusted EPS. For the full financial year, DocuSign now expects up to $2.04 billion of revenue versus the FactSet consensus of $1.99 billion.
DocuSign opened at $210 per share in the stock market on Friday and is currently exchanging hands at $227 per share. This compares to a year-to-date high of $265 per share in February. The stock performed massively upbeat in the stock market last year with an annual gain of almost 200%. At the time of writing, the Nasdaq-listed company has a market cap of $44.14 billion.
CEO Dan Springer’s comments on CNBC’s “TechCheck”
DocuSign said that customer additions hit a record in the recent quarter despite easing COVID-19 restrictions. Commenting on that, CEO Dan Springer said on CNBC’s “TechCheck”:
“We attribute it to customer demand. More and more companies are focusing on digitally transforming their business. Whether that’s in
