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DocuSign Stock Gains 12% On Quarterly Results

Shares of DocuSign, Inc. (DOCU) are gaining over 12% on Friday morning after reporting third quarter results.

DOCU is currently trading at $49.37, up $5.62 or 12.85%, on the Nasdaq, on a volume of 13 million shares, above average volume of 4.8 million. The stock opened its trading at $47.53 after closing Thursday's trading at $43.75. The stock has traded between $39.57 and $159.73 in the 52-week period.

Revenues was $645.5 million, an increase of 18% year-over-year. Subscription revenue was $624.1 million, an increase of 18% year-over-year. Professional services and other revenue was $21.4 million, an increase of 27% year-over-year.

Third-quarter net loss was $29.9 million or $0.15 per share, wider than last year's loss of $5.7 million or $0.03 per share last year. Adjusted income per share was $0.57 compared to $0.58 last year.

Looking forward, the company expects revenues of $637 million to $641 million for the fourth quarter and $2.493 billion to $2.497 billion for the full year.

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