Box beats Q4 estimates as adoption of Box Suites accelerates
The cloud content management company says it's focused on profitable growth as it eyes revenue of around $200 million for the current quarter.
March 2, 2021 -- 21:32 GMT (13:32 PST)
| Topic: Cloud
Box on Tuesday delivered better-than-expected fourth quarter financial results. Executives said the company is focused on profitable growth as it eyes revenue of around $200 million for the current quarter.
The cloud content management company's Q4 non-GAAP net income per share was 22 cents. Revenue was $198.9 million, up 8 percent year-over-year.
Analysts were expecting earnings per share of 17 cents on revenue of $196.54 million.
"In fiscal 2021, we achieved a significantly stronger balance of growth and profitability while executing on our vision to deliver the Box Content Cloud, a secure platform for managing the entire content lifecycle in the cloud," CEO Aaron Levie said in a statement. "Growing demand for products like Shield and Relay continues to accelerate adoption of our bundled Suite offerings."