Content management platform Box Inc. (NYSE: BOX) has reported an increase in revenues and adjusted earnings for the second quarter of 2023. The top line also exceeded analysts’ expectations.
Second-quarter net income, on an adjusted basis, was $0.28 per share, compared to $0.21 per share in the same period of 2022. On a reported basis, it was a net loss of $3.26 million or $0.02 per share, compared to a loss of $12.49 million or $0.08 per share in the prior-year period.
At $246.02 million, revenues were up 15%, while billings increased 10% annually to $234.98 million. At the end of the quarter, the company had total deferred revenues of $458.25 million, up 9%.
Check this space to read management/analysts’ comments on Box’s Q2 2023 report
“As the value of our platform continues to resonate with customers and we continue to drive strong adoption of our multi-product offerings, we delivered a Net Retention Rate of 112%, up 600 basis points from the prior year. Our business momentum remains strong as we execute on our Content Cloud platform strategy to ensure that we will continue to drive further annual revenue acceleration and operating margin expansion in FY23,” said Box’s CFO Dylan Smith.
Prior Performance
Looking for more insights on the earnings results? Click here to access the full transcripts of the latest earnings conference calls!
Most Popular
CVX Earnings: Chevron reports lower revenue and profit for Q3 2024
Energy exploration company Chevron Corporation (NYSE: CVX) on Friday announced third-quarter 2024 financial results, reporting a decline in net profit and revenues. Net income attributable to Chevron Corporation dropped to
Key highlights from Exxon Mobil Corporation’s (XOM) Q3 2024 earnings results
Exxon Mobil Corporation (NYSE: XOM) reported its third quarter 2024 earnings results today. Total revenues and other income remained relatively flat at $90 billion compared to the same period a
AAPL Earnings: Apple Q4 2024 sales rise 6% YoY, beat estimates
Apple Inc. (NASDAQ: AAPL) reported an increase in revenues for the fourth quarter of 2024. The top line came in above estimates. The gadget giant generated revenues of $94.9 billion
