Box Q3 Revenue Outperforms Wall Street Expectations

Box’s third-quarter financial reports exceeded Wall Street expectations as the cloud content management company posted positive revenue reports on Tuesday.

The company posted a non-GAAP net income of 22 cents per share on revenue of $224 million, a 14% jump from a year earlier, and analysts had expected a profit of 21 cents per share on revenue of $218.6 million.

For the fourth quarter, the company’s estimated revenue is between $227 million and $229 million. For the full fiscal year 2022, revenue is expected to be in the range of $868 million to $870 million.

Commenting on the company’s Q3 report and plans for the company’s future, Box co-founder and CEO Aaron Levie said, “In addition to our solid financial and customer metrics, we made meaningful product announcements in the third quarter, including the rollout of Box Sign globally, new malware deep scan capability in Box Shield to combat ransomware, and deeper integrations with Microsoft Office and Teams, Salesforce, Slack and Zoom.”

IT World Canada Staff
IT World Canada Staff
The online resource for Canadian Information Technology professionals.

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