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
Microsoft (MSFT) reports higher revenue and profit for Q3 2024
Microsoft Corp. (NASDAQ: MSFT) on Thursday said its third-quarter 2024 earnings increased year-over-year, reflecting strong performance by the tech giant’s main operating segments. Third-quarter revenues came in at $61.86 billion,
GOOG, GOOGL Earnings: All you need to know about Alphabet’s Q1 2024 earnings results
Alphabet Inc. (NASDAQ: GOOG, GOOGL) reported its first quarter 2024 earnings results today. Revenues increased 15% year-over-year to $80.5 billion. Revenue growth was 16% in constant currency. Net income was
MRK Earnings: Merck Q1 2024 profit jumps on 9% revenue growth
Pharmaceutical company Merck & Co. Inc. (NYSE: MRK) reported a sharp increase in adjusted earnings for the first quarter of 2024, aided by an increase in revenues. First-quarter worldwide sales