:max_bytes(150000):strip_icc()/GettyImages-2157160165-fc586f92111548c6b8a0499bd3f82bfc.jpg "Why Docusign Stock Is Surging Friday")
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Key Takeaways
- Docusign shares jumped Friday after the maker of electronic signature software posted strong quarterly results and boosted its outlook.
- CEO Allan Thygesen called the performance “one of Docusign’s highest growth and profitability quarters in recent years,” thanks in part to its AI offerings.
- Total customers rose 9% from a year ago, and the number of customers who spent more than $300,000 rose 7%.
Docusign (DOCU) shares jumped Friday, after the maker of electronic signature software posted strong quarterly results and boosted its outlook as it added more customers and expanded its artificial intelligence offerings.
The company reported second-quarter adjusted earnings per share of $0.92, above analysts’ estimates compiled by Visible Alpha. Its revenue rose 9% year-over-year to $800.6 million, and billings were up 13% to $818 million. Both figures also exceeded expectations.
Docusign said its total number of customers grew 9% to more than 1.7 million at the end of the quarter. Large customers who spent more than $300,000 per year rose 7% to 1,137.
CEO Allan Thygesen called it “one of Docusign’s highest growth and profitability quarters in recent years,” thanks in part to “AI innovation launches and recent go-to-market changes.”
The company said it now sees full-year revenue of $3.189 billion to $3.201 billion, up from $3.151 billion to $3.163 billion previously.
Shares of Docusign gained over 5% recent trading. Still, they’ve lost about 11% of their value since the start of the year.
