Why Box Stock Surged Today
Shares of Box (NYSE: BOX) jumped 10% on Wednesday, following the release of the cloud-based data storage specialist's fiscal 2022 third-quarter results.
Revenue rose 14% year over year to $224 million. Its deferred revenue, meanwhile, increased 21% to $429.7 million.
Better still, Box's billings -- a key metric that includes sales to new and existing customers, as well as subscription renewals -- jumped 25% to $231.5 million.
Source Fool.com
