Why Box Stock Popped Today
Shares of Box (NYSE: BOX) have popped today, up by 5% as of 2:50 p.m. EST, after the company reported fourth-quarter earnings. The results topped expectations and the cloud storage specialist also provided a rosy outlook for the first quarter.
Revenue in the fiscal fourth quarter increased 12% to $183.6 million, ahead of the $181.8 million in sales that Wall Street was expecting. That resulted in adjusted earnings per share of $0.07, also beating the consensus estimate of $0.04 per share in adjusted profits. Billings jumped 19% to $281.9 million, and remaining performance obligations were $767.8 million at the end of the quarter.
Image source: Box.
Source Fool.com
