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Due to Q2 earnings and revenue projections that exceeded expectations, DocuSign increased 17% in pre-market trading.

DocuSign outperformed Wall Street expectations by earning an adjusted 44 cents per share in its fiscal second quarter.

Sales increased 22% to $622.2 million, exceeding the $602 million forecast.

Billings( a sales growth metric)increased 9% from the same quarter last year to $647.7 million in the second quarter.

The executive team at DocuSign anticipates revenue of $2.470 billion to $2.482 billion for the entire year.

The software developer, situated in San Francisco, released its earnings on Thursday following the market close.

Adjusted earnings were anticipated to be 42 cents per share by FactSet's analysts.

Analysts had estimated Q3 revenue of $625 million and billings of $593.4 million.

Demand for DocuSign products spiked during the early stages of the Covid pandemic.

Operating margins increased sequentially to 18% because of cost reductions and reduced spending objectives.