Why DocuSign Stock Is Ripping Higher After Hours

DocuSign Inc DOCU shares are trading higher in Thursday's after-hours session after the company reported better-than-expected financial results and issued strong guidance.

Q3 Results: DocuSign said third-quarter revenue was up 18% year-over-year. The company reported quarterly revenue of $645.5 million, which beat average analyst estimates of $626.88 million, according to Benzinga Pro.

DocuSign reported third-quarter earnings of 57 cents per share, which beat average estimates of 42 cents per share. 

Outlook: DocuSign expects fourth-quarter revenue to be between $637 million and $641 million versus average estimates of $640.15 million. The company sees full-year revenue between $2.493 billion and $2.497 billion versus average estimates of $2.49 billion. 

See Also: Citigroup Maintains Buy Rating for DocuSign: Here's What You Need To Know

DOCU Price Action: DocuSign has a 52-week high of $163.77 and a 52-week low of $39.57.

The stock was up 14% in after hours at $49.99 at time of publication, according to Benzinga Pro.

Photo: courtesy of DocuSign.