Why Box Shares Are Moving Higher After The Close

Box Inc BOX shares are trading higher in Tuesday's after-hours session after the company reported better-than-expected results and issued strong second-quarter guidance.

• Q1 Revenue: $251.9 million beat estimates of $249.25 million
• Q1 EPS: 32 cents beat estimates of 27 cents

Cash flow from operations was up 16% year-over-year and free cash flow up was 19%. 

"In FY24, our pace of innovation continues to accelerate as we delivered on key roadmap milestones such as the general availability of Box Canvas and the next generation of Box Shuttle," said Aaron Levie, co-founder and CEO of Box.

"And our innovation expands even further with Box AI, which leverages the power of artificial intelligence to unlock the value of our customers' content and fundamentally change how work gets done."

Outlook: Box sees second-quarter revenue in a range of $260 million to $262 million versus estimates of $260.3 million. The company expects second-quarter earnings of 34 cents to 35 cents per share versus estimates of 33 cents per share.

Box guided for full-year revenue of $1.045 billion to $1.055 billion versus estimates of $1.06 billion. The company sees full-year earnings of $1.44 to $1.50 per share versus estimates of $1.44 per share.

See Also: Ambarella Shares Fall As 'Cyclical Headwinds Persist'

BOX Price Action: Box shares were up 2.46% after hours at $28.99 at time of publication, per Benzinga Pro.

This illustration was generated using artificial intelligence via MidJourney.