Box posted higher quarterly revenue and profit and raised its fiscal full-year revenue outlook after the U.S. dollar weakened compared with the Japanese yen.
The Redwood City, Calif., cloud-storage firm Tuesday posted fiscal second-quarter net income of $20.5 million, or 10 cents a share, up from $10.8 million, or 4 cents a share, in the same quarter last year.
Adjusted per-share earnings were 44 cents, beating the 40 cents a share forecast by analysts polled by FactSet.
Revenue rose 3.3% to $270 million, in line with analysts ’ expectations, according to FactSet.
Shares rose about 6% in premarket trading Wednesday.
Chief Executive Aaron Levie said the company ’ s expansion into artificial intelligence and recent technology acquisitions expanded its market opportunity.
For its third fiscal quarter, Box expects revenue between $274 million and $276 million and adjusted per-share earnings between 41 cents and 42 cents. Analysts surveyed by FactSet expect revenue of $271.6 million and adjusted earnings of 40 cents a share.
About a third of Box ’ s revenue is generated outside the U.S., of which about 60% is in Japanese yen. Due to the weakening of the U.S. dollar versus the yen, the company raised its fiscal full-year revenue outlook to $1.086 billion and $1.09 billion, slightly ahead of the $1.08 billion expected by analysts.
The company had previously guided for full-year revenue between $1.075 billion to $1.08 billion.
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