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DocuSign fiscal Q3 revenue, profit easily top expectations, forecast higher as well

Digital transformation is making the software important for more than just e-signatures.
Written by Tiernan Ray, Senior Contributing Writer

Shares of DocuSign, the San Francisco-based provider of digital document signing capabilities, rose sharply in late trading after the company this afternoon reported fiscal third-quarter revenue and profit per share that easily topped consensus, and forecast this quarter's revenue slightly above expectations.

CEO Dan Springer said in prepared remarks that "the company's role as an essential cloud platform continues to grow" as a result of companies pursuing digital transformation.

"Our Q3 results reflect that tailwind, as well as the immediate and long-term value that customers see from eSignature and our broader Agreement Cloud," said Springer.

For the three months ended in October, DocuSign reported ref use of $382.92 million, up 54%, year over year, and earnings per share of 22 cents. 

That compares to the average Street estimate for $361 million and EPS of ten cents a share. 

DocuSign said its billings rose 63%, year over year, to $440.4 million. 

For the current quarter, the company sees revenue in a range of $404 million to $408 million, which is higher than consensus for $387 million. 

Shares of DocuSign initially jumped over six percent in late trading and are now up 3% in late trading at $237.99.

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