Box wins: BOX Stock Heads 8% higher on Q4 Beat

<p>Box (NYSE: BOX) revenues for the cloud content company’s fourth quarter for the fiscal year 2020 have BOX shares rising after the markets closed on Wednesday. This is thanks to the adjusted earnings per share (EPS) of 7 cents, which beats the Wall Street estimate of 4 cents. Its revenue of $ 183.59 million also exceeds analysts’ estimates of $ 181.63 million.

Source: Sundry Photography / Shutterstock.com

Let us now take a more in-depth look at the latest Box results report.

Adjusted earnings for the quarter will be 16.67% higher than the 6 cents in the fourth quarter of fiscal year 2019. Revenue increased 12.14% from $ 163.71 million over the same period last year. Operating profit of – $ 28.58 million is 31.77% wider compared to the same period last year from – $ 21.69 million. The Box earnings report also includes a net loss of – $ 30.39 million. That’s 54.34% worse than the company’s net loss of $ 19.69 million from the same time last year.

Aaron Levie, co-founder and CEO of Box, had this to say about BOX share income:

“During the 2020 financial year, we launched two major new products, Box Relay and Box Shield, which expanded our platform for several products and strengthened our leadership in the cloud content management market. With these extra opportunities, we see more and more of our customers take full advantage of Box’s through our Enterprise Suite offering. Going forward towards FY21, we are focused on driving healthy growth and significantly improved profitability. ”

Box’s earnings report also includes its guidelines for the fiscal year 2020. It expects an adjusted earnings per share of 38 cents to 44 cents on revenue of $ 771 million to $ 777 million. Wall Street’s estimates are for EPS at 29 cents on revenue of $ 773.07 million.

The BOX share increased by 8.28% after Wednesday.

At the time of writing, William White had no position in any of the above securities.

Article printed from InvestorPlace Media, https://investorplace.com/2020/02/box-earnings-send-stock-soaring/.

© 2020 InvestorPlace Media, LLC

Tags: , , , , ,