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: Box revenue, earnings beat estimates, propelling shares 6%

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Box Inc. reported fiscal fourth-quarter results that beat the top and bottom lines and raised revenue guidance, propelling shares 6% in extended trading Wednesday.

The results — the fourth straight quarter in which revenue accelerated — show Box
BOX,
+2.65%

is “uniquely positioned to capitalize” as businesses increasingly adopt a digital-first, cloud-based delivery of content, Box Chief Executive Aaron Levie told MarketWatch.

The Redwood City, Calif.-based company reported a net loss of $4.3 million, or 6 cents a share, compared with a net loss of $4.9 million, or 3 cents a share, in the year-ago quarter. The company reported adjusted net income of 24 cents a share.

Revenue was $233.4 million, a jump of 17% from $198.9 million a year ago.

Analysts surveyed by FactSet had expected net income of 23 cents a share on revenue of $228.8 million.

The company raised its second-quarter revenue guidance to between $233 million and $235 million, surpassing the $230.2 million forecast by analysts polled on FactSet.

Shares of Box have slipped less than 1% this year. The broader S&P 500 index SPX has lost 8% in 2022.

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