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Why DocuSign Stock Was Soaring Earlier Today

TheMotleyFool

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Why DocuSign Stock Was Soaring Earlier Today: https://g.foolcdn.com/editorial/images/700200/docusign-e-signature-e-contract-displayed-on-a-smartphone.png

Shares of DocuSign (NASDAQ: DOCU) were up 8.6% as of 12:40 p.m. ET on Friday. The company reported a revenue increase of 22% year over year, with adjusted earnings per share showing a notable improvement over the previous quarter.

Worries over lower demand for the company's e-signature product sent the stock plummeting this year, but low expectations usually set the stage for a rebound, which is what happened following the earnings report.

The 22% increase in revenue was slightly down from the 25% increase in the first quarter. As CEO Maggie Wilderotter noted, it was a "strong finish" to the first half of fiscal 2023.

Source Fool.com

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