DocuSign stock pops on earnings, outlook beat

DocuSign Inc.DOCU shares rallied in the extended session Thursday after the digital agreement company’s quarterly results and outlook surpassed Wall Street expectations.

DocuSign shares surged 6% after hours, following a 2.9% decline in the regular session to close at $194.75.The company reported a first-quarter loss of $8.4 million, or 4 cents a share, compared with $47.8 million, or 26 cents a share, in the year-ago period. Adjusted earnings, which exclude stock-based compensation expenses and other items, were 44 cents a share, compared with 12 cents a share in the year-ago period. Revenue rose to $469.1 million from $297 million in the year-ago quarter.

Analysts surveyed by FactSet had forecast 28 cents a share on revenue of $437.6 million. DocuSign forecast revenue of $479 million to $485 million for the second quarter, and $2.03 billion to $2.04 billion for the year. Analysts had estimated revenue of $474.2 million for the second quarter, and revenue of $1.99 billion for the year.