Box (NYSE:BOX) earnings for the cloud content company’s fiscal third quarter of 2020 have BOX stock soaring in after-hours trading on Tuesday. That’s thanks to its Non-GAAP losses per share of -1 cent on revenue of $177.20 million. That has EPS matching Wall Street’s estimate and revenue beating out analysts’ estimates of $174.63 million.
Now for the finer details of the Q3 Box earnings report.
- Non-GAAP per-share losses are 83.33% better than the -6 cents from the fiscal third quarter of 2019.
- Revenue is sitting 14% higher than the $155.94 million reported during the same time last year.
- An operating loss of -$39.20 million is close to 1% better than -$39.20 million in the same period of the year prior.
- The Box earnings report also contains a net loss of -$40.90 million.
- That’s 1.74% worse YoY compared to the company’s net loss of -$40.20 million.
Dylan Smith, co-founder and CFO of Box, says this about the current BOX stock earnings.
“We continue to build the foundation to drive more profitable growth. In Q3, we delivered operational efficiencies on our path to achieving our first full year of non-GAAP profitability in FY20, and we are committed to delivering significant improvements in operating margin in FY21 and beyond.”
Good news in the Box earnings report also comes from its fiscal 2020 guidance update. The company is expecting Non-GAAP earnings per share of roughly 1 cent with revenue ranging from $693.7 million to $694.7 million. This compares well against Wall Street’s estimates of 1 cent per share and $690.90 million in revenue.
BOX stock was up 3.95% after markets closed on Tuesday. It also finished the day up 1.46%.
As of this writing, William White did not hold a position in any of the aforementioned securities.