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Stock Alert: Box Climbs 5% As Earnings Beat Estimates

(RTTNews) - Cloud management company Box, Inc. (BOX) shares are currently up more than 8% On Thursday morning trade as it reported a quarterly profit on adjusted basis, that surpassed analyst estimates. Currently the stock is at 20.95 up 4.92% from its previous close of 19.29. The shares have been ticking higher since Aug 10. For the 52-week period the shares were trading in a range of $8.64 to $22.09 on average volume of 2627816. On Wednesday, the company reported narrower net loss of $7.65 million for the second quarter $36.23 million loss in the prior year. On a per share basis, loss was $0.05, compared to loss of $0.25 last year. On an adjusted basis, Box recorded a profit of $29.91 million or $0.18 per share. Wall Street analysts were looking for earnings of $0.12 per share. Revenue for the quarter increased to $192.29 million from $172.55 million in the previous year. Analysts expected $192.79 million.

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