Shares of DocuSign (DOCU) – Get Report were rising Thursday afternoon after the cloud-based electronic signature solutions firm reported quarterly results that handily beat consensus analyst estimates.
For its fiscal third quarter ending in October, DocuSign earned non-GAAP net income of $0.22 per share, compared to expectations of $0.13 per share and results of $0.11 in the same period last year.
Shares were rising 7.1% to $247.13 in after-hours trading, after having risen 6.1% during the day’s trading.
Total quarterly revenue was $382.9 million, an increase of 53% year over year, compared to expectations for $361.2 million. Subscription revenue grew 54% year over year to $366.6 million, and professional services and other revenue increased 43% to $16.3 million.
“As companies accelerate the digital transformation of their business and agreement processes, DocuSign’s role as an essential cloud platform continues to grow,” said Dan Springer, DocuSign CEO. “Our Q3 results