Box

Box raises Full-Year Forecast as More Customers Subscribe for Cloud Storage

Box raises Full-Year Forecast as More Customers Subscribe for Cloud Storage

After more customers have subscribed to Cloud storage provider Box Inc's content-sharing platform, the company has been prompted to raise its forecasts. Shares of the company jumped 8.7% in extended trading on Wednesday. Customers of the company include AstraZeneca Plc, General Electric Co and Chevron Corp.

Box had earlier said that chances were low for the company to be profitable for the foreseeable future due to continuing investments in scaling business.

Online storage service Box announces $1.65 per share loss for last quarter

Online storage service Box announces $1.65 per share loss for last quarter

Box, an online file sharing and personal cloud content management service, has reported a non-GAAP net loss of $1.65 per share for the quarter. According to initial reports, analysts were anticipating it to be $1.17. And in after hours trading, the shares fell more than 16%.

However, according to a CNBC report, Aaron Levie, Box CEO told that consensus was a result of a wrong share count. He also said that the loss should have been $1.99. He said that performance of the company was better than expected.

According to Levie, the analysts who revealed the wrong data were given the correct information. Box is reporting huge losses compared to revenue.

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