DocuSign Inc. DOCU, -8.10% beat earnings expectations and raised its forecast for the full year Wednesday afternoon. DocuSign reported second-quarter losses of $36.7 million, or 22 cents a share, on sales of $167 million, up from $125.5 million a year ago. After adjustments for stock-based compensation and other effects, DocuSign claimed profit of 3 cents a share, up from an adjusted loss of 5 cents a share a year ago. Analysts on average expected adjusted earnings of a penny a share on sales of $158.7 million. The company raised its annual forecast for revenue, to a range of $683 million to $688 million from $652 million to $658 million, as well as billings, which moved to a range of $732 million to $752 million from $680 million to $700 million. Despite the earnings beat and raised forecast, DocuSign shares slipped in immediate late trading, falling more than 4% after closing at $63.10. The company went public in April at a share price of $29.
Have breaking news sent to your inbox. Subscribe to MarketWatch's free Bulletin emails. Sign up here.