DocuSign stock surges 2% after earnings beat Street expectations

DocuSign Inc. shares rose after the e-signature company's quarter and outlook exceeded Wall Street expectations. After hours yesterday, DocuSign shares surged by more than 2% to close at $58.48. In the year-ago period, the company reported net profit of $539,000, or break-even per share, compared to a loss of $27.3 million, or 14 cents a share. With adjusted earnings, which include one-time charges and stock-based compensation charges, almost doubled from 38 cents a share to 72 cents a share in the year-ago period. Revenue rose to $661.4 million, from $588.7 million in the year-ago period. On revenue of $641.7 million last year, analysts forecast 56 cents a share, up from the pre-tax estimate of $641.7 million. For the July-end quarter, the company predicted revenue of $675 million to $679 million and for the year, $2.71 billion to $2.73 billion. In the second quarter, analysts forecast $2.7 billion and $667.7 million for the year.