Box Inc. (BOX) has reported its first-quarter earnings, showcasing a significant increase from the previous year and surpassing Wall Street expectations.
The company achieved net earnings of $11.5 million, translating to $0.08 per share. This is a notable rise from last year's first-quarter earnings of $3.7 million, or $0.02 per share.
Excluding special items, Box Inc. reported adjusted earnings of $0.39 per share for the quarter. According to data compiled by Thomson Reuters, analysts had anticipated earnings of $0.36 per share on average, typically excluding extraordinary items.
Revenue for the quarter reached $264.7 million, marking a 5.1% increase from $251.9 million in the same period last year.
Summary of Box Inc.'s (GAAP) first-quarter earnings:
- Earnings: $11.5 million, compared to $3.7 million last year.
- EPS: $0.08, up from $0.02 last year.
- Revenue: $264.7 million, compared to $251.9 million last year.
