Box Inc. (NYSE: BOX) reported third-quarter 2021 financial results after the regular trading hours on Tuesday. The internet company reported Q3 revenue of $196 million, up 11% year-over-year, and higher than the Wall Street projection. Meanwhile, net income of $0.20 per share was much better than what analysts had anticipated.
BOX shares fell 6.6% immediately following the announcement. The stock has gained 7% since the beginning of this year.
![Box Inc Q3 2021 earnings](https://cdn.news.alphastreet.com/wp-content/uploads/2020/12/Box-Inc-Q3-2021-earnings-.png)
CFO Dylan Smith said, “Our focus on driving more efficient growth allowed us to significantly improve operating margins and cash flow in Q3. We now expect our non-GAAP operating margin for the full year to be at least 14 percent of revenue, a 1,300 basis point improvement from one percent a year ago.”
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