Box (NYSE:BOX) earnings for the cloud content company’s fourth quarter of fiscal 2020 have BOX stock soaring after markets closed on Wednesday. That’s thanks to its adjusted earnings per share (EPS) of 7 cents, which beats out Wall Street’s estimate of 4 cents. Its revenue of $183.59 million also comes in above analysts’ estimates of $181.63 million.
Now, let’s take a more in-depth look at the most recent Box earnings report.
- Adjusted EPS for the quarter comes in 16.67% higher than the 6 cents in Q4 of fiscal 2019.
- Revenue is sitting up 12.14% from $163.71 million during the same period of the year prior.
- Operating loss of -$28.58 million is 31.77% wider year-over-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 the BOX stock earnings:
“In fiscal 2020, we launched two major new products, Box Relay and Box Shield, building out our multi-product platform and solidifying our leadership in the cloud content management market. With these added capabilities, we are seeing more and more of our customers adopt the full power of Box through our Enterprise Suite offering. Looking ahead to FY21, we are focused on driving healthy growth and significantly improved profitability.”
The Box earnings report also includes its fiscal 2020 guidance. It is expecting 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 of 29 cents on revenue of $773.07 million.
BOX stock was up 8.28% after-hours Wednesday.
As of this writing, William White did not hold a position in any of the aforementioned securities.