DocuSign Inc DOCU shares are trading higher in Monday's after-hours session in sympathy with Zoom Video Communications Inc ZM after the company reported better-than-expected financial results and raised guidance.
Zoom Video is part of a basket of stocks tied to the stay-at-home trade, which became popular in the wake of the COVID-19 pandemic. DocuSign is considered one of the pandemic beneficiaries. Both stocks are trading significantly below their pandemic highs.
- ZM Revenue: $1.074 billion beat estimate of $1.07 billion.
- ZM EPS: $1.03 beat estimate of $0.87.
Zoom Video said it expects second-quarter revenue to be between $1.115 billion and $1.12 billion versus the estimate of $1.11 billion. The company expects second-quarter adjusted earnings to be between 90 and 92 cents per share versus the estimate of 88 cents per share.
Zoom Video guided for $4.53 billion to $4.55 billion in full-year revenue versus the estimate of $4.55 billion. The company expects full-year adjusted earnings to be between $3.70 and $3.77 per share versus the estimate of $3.53 per share.
Related Link: Why Zoom Video Shares Are Surging After Hours
DocuSign operates a broad cloud-based software suite that enables users to automate the agreement process and provide legally binding e-signatures from almost any device.
DOCU 52-Week Range: $64.84 - $314.76
The stock was up 3.05% in after-hours at $80.68 at press time.
Photo: courtesy of DocuSign.
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