RTTNews | Jun 4, 2021 10:04AM EDT

10:03 Friday, June 4, 2021 (RTTNews.com) - DocuSign, Inc. (DOCU) shares are rising on Friday morning as the company reported net loss for the first quarter that narrowed from the prior year on significant revenue growth.

On an adjusted basis, the company reported profit of $0.44 per share. The shares were also driven up by revenue outlook that came in better than analysts' view.

Analysts polled by Thomson Reuters expected earnings of $0.28 per share on revenues of $437.81 million.

The company reported first-quarter net loss of $8.354 million or $0.04 per share, narrower than net loss of $47.80 million or $0.26 per share in the prior year.

Revenue for the quarter increased to $469.07 million from $297.02 million in the previous year. Looking forward to the second quarter, the computer expects revenues of $479 million to $485 million. Analysts currently estimate revenues of $473.68 million. Analysts were looking for $0.15 per share on revenue of $473.68 million.

For fiscal 2022, the company expects revenues of $2.03 billion to $2.04 billion. Analysts currently estimate revenues of $1.98 billion.

Currently, shares are trading at $221.00, up 13.95 percent from the previous close of $194.75 on a volume of 3,070,253. For the 52-week period, the shares have traded in a range of $131.26-$290.23 on average volume of 2,782,012.

Read the original article on RTTNews ( https://www.rttnews.com/3200122/stock-alert-docusign-gains-13-on-adjusted-profit-for-q1-better-than-expected-outlook-for-q2.aspx)

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