Box Stock Climbs As Earnings Beat Estimates

▤ Summary

The company reported adjusted earnings of 10 cents per share on revenue of $183.6 million. Box is a pioneer in the field of cloud-based business collaboration and content management services and software. Founded in 2005, Box held its initial public offering in January 2015, pricing shares at 14. "Our heightened focus on driving expansion and renewals in our existing customer base, combined with a predominantly recurring revenue model, create strong financial resiliency in light of this dynamic situation," Chief Financial Officer Dylan Smith said in written remarks with the earnings release. Please follow Brian Deagon on Twitter at @IBD_BDeagon for more on tech stocks, analysis and financial markets.

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