Box Inc (BOX) Q1 2022 Earnings Call Transcript Motley Fool Transcribers © The Motley Fool Logo of jester cap with thought bubble.
Box Inc (NYSE: BOX)
Operator
Good day and thank you for standing by. Welcome to the Box Inc., First Quarter Fiscal 2022 Earnings Conference Call. [Operator Instructions]
I would now like to hand the conference over to your speaker today, Chris Foley, VP of Finance and Investor Relations. Thank you. Please go ahead.SPONSORED:
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Box Inc (BOX) Q1 2022 Earnings Call Transcript
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Box beats expectations, raises guidance as it looks for a comeback
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Box beats expectations, raises guidance as it looks for a comeback
Box executives have been dealing with activist investor Starboard Value over the last year, along with fighting through the pandemic like the rest of us. Today the company reported earnings for the first quarter of its fiscal 2022. Overall, it was a good quarter for the cloud content management company.
The firm reported revenue of $202.4 million, up 10% compared to its year-ago result, numbers that beat Box projections of between $200 million to $201 million. Yahoo Finance reports the analyst consensus was $200.5 million, so the company also bested street expectations.
The company has faced strong headwinds the past year, in spite of a climate that has been generally favorable to cloud companies like Box. A report like this was badly needed by the company as it faces a board fight with Starboard over its direction and leadership.