Shares of Box (NYSE: BOX) traded up more than 7% on Wednesday afternoon after the cloud-based storage provider reported third-quarter revenue that came in ahead of expectations and raised its full-year sales outlook. The company has been under pressure due to investor concerns about competition, but the latest results seemed to help put shareholders at ease.
After markets closed Tuesday, Box reported a third-quarter loss of $0.01 per share, matching expectations, on revenue of $177.2 million that was $3 million ahead of consensus estimates. The company said it expects fourth-quarter adjusted earnings of $0.04 to $0.05 per share on revenue of $181 million to $182 million, which is slightly better than the $0.04 earnings per share on $180 million in revenue consensus estimate.
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Source Fool.com