Box (NYSE:BOX) earnings for the cloud storage company’s second quarter of fiscal 2021 have BOX stock on the rise after-hours Wednesday. That’s thanks to its adjusted earnings per share of 18 cents easily beating Wall Street’s estimate of 12 cents. Its revenue of $192.29 million also comes in above analysts’ estimates of $189.56 million.
Here are some additional highlights from the most recent Box earnings report.
- Adjusted per-share earnings are an impressive jump from flat EPS in the second quarter of fiscal 2020.
- Revenue for the quarter is sitting 11% higher than the $172.55 million in the same period of the year prior.
- Operating loss of $7.51 million is a 79.3% improvement year-over-year from $36.28 million.
- Box earnings also have it reporting a net loss of $7.66 million.
- That’s a 78.9% narrower net loss than the $36.23 million reported during the same time last year.
Dylan Smith, co-founder and CFO of Box, said this about the earnings results.
“Our strong Q2 results demonstrate the progress that we’ve made in delivering an excellent balance of growth and profitability, even in these uncertain times. Our heightened focus on driving expansion and renewals in our existing customer base drove strong top line results, while our focus on overall cost discipline allowed us to significantly improve operating margins and cash flow.”
Box also includes guidance for fiscal 2021 in its earnings report. It expects adjusted EPS between 56 cents and 60 cents on revenue of $767 million to $770 million. For comparison, Wall Street is estimating adjusted EPS of 50 cents on revenue of $765.11 million for the fiscal year.
BOX stock was up 8.4% after-hours Wednesday and ended normal trading hours up 7%.
As of this writing, William White did not hold a position in any of the aforementioned securities.