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Why DocuSign Stock Is Soaring Higher Today

Why DocuSign Stock Is Soaring Higher Today

Shares of DocuSign (NASDAQ: DOCU), an electronic signature company, were skyrocketing this morning after the company beat Wall Street's top- and bottom-line estimates in the third quarter. DocuSign reported non-GAAP (adjusted) earnings of $0.57 in the quarter, which was down only slightly from $0.58 in the year-ago quarter but was far ahead of analysts' consensus estimate of $0.42 per share. The driving force behind the company's sales growth came from DocuSign's subscription revenue, which increased 18% year over year to $624.1 million.