DocuSign Stock Soars On Q2 Earnings Beat, Solid Billings Outlook "We enter this next phase with a clear set of vital few deliverables for our people initiatives and product roadmap," said interim CEO Maggie Wilderotter.
DocuSign Inc. (DOCU) shares surged higher Friday after the online signature vending group posted stronger-than-expected second quarter earnings and a solid near-term outlook.
DocuSign which has been struggling to hold investor interest as pandemic-era restrictions bring more and more professionals back to the office, earned 44 cents per share over the three months ending in July, topping Street forecasts on a non-GAAP basis by around 2 cents per share.
The group also notched a 22% gain in revenues, which hit $622.2 million, and said full-year sales would likely rise to between $2.47 and $2.48 billion and billings of between $2.5 and $2.57 billion, thanks in part to an expanded partnership with Microsoft (MSFT) which will see the tech giant using DocuSign's products and services in its contract management workflows.
Cost cuts and pared-back spending plans helped operating margins improve on a sequential basis to 18%, the company said, a figure that is likely to hold up over the back half of its financial year.
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