Box Shares Climb After Q2 Results: EPS Beat, Revenues Beat, Guidance Above Estimates

Box, Inc. BOX reported its second-quarter financial results after Tuesday's closing bell. Here's a look at the details from the report. 

The Details: Box reported quarterly earnings of 44 cents per share, which beat the analyst consensus estimate of 40 cents by 10%. Quarterly revenue came in at $270.039 million, which beat the consensus estimate and is a 3.29% increase year-over-year.

Remaining performance obligations (RPO) as of July 31, 2024, were $1.272 billion, a 12% increase from the prior year’s quarter. Billings for the second quarter were $256.4 million, a 10% increase from the second quarter of last year, and operating margin was a record 28.4% of revenue.

“As we enter the era of Intelligent Content Management, Box is delivering a singular platform that can power the lifecycle of content with intelligence built right in,” said Aaron Levie, co-founder and CEO of Box.

“With Box AI and strategic technology acquisitions like Alphamoon, the Box Intelligent Content Cloud can now support more use-cases across the enterprise than traditional ECM, dramatically expanding our market opportunity,” Levie added.

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Outlook: Box sees third-quarter earnings between 41 cents and 42 cents per share, versus the 40-cent estimate, and revenue in a range of $274 million to $276 million, versus the $269.182 million estimate.

The company expects fiscal year 2025 earnings of between $1.64 and $1.66 per share, versus the $1.57 estimate, and fiscal year revenue in a range of $1.086 billion to $1.09 billion, versus the $1.079 billion estimate.

BOX Price Action: According to Benzinga Pro, Box shares are up 4.61% after-hours at $30.15 at the time of publication Tuesday.

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