Box shares surge 10% on better-than-expected results
Box Inc. shares were up 10% in after-hours trading Wednesday after the enterprise-content platform reported fourth-quarter earnings that exceeded Wall Street estimates. Box reported a loss of $30.3 million, or 20 cents a share, in the quarter, compared with a loss of $19.7 million, or 14 cents a share, in the year-ago fourth quarter. Revenue improved 12% to $183.6 million from $163.7 million a year ago. Analysts surveyed by FactSet had expected a loss of 22 cents a share on sales of $181.6 million. Box shares are down 40% over the last 12 months. The broader S&P 500 index has gained 11.6% in the last year.
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