Box Inc Q1 Profit Increases, Beats Estimates

(RTTNews) - Box Inc (BOX) released earnings for its first quarter that increased from last year and beat the Street estimates.

The company's earnings came in at $11.5 million, or $0.08 per share. This compares with $3.7 million, or $0.02 per share, in last year's first quarter.

Excluding items, Box Inc reported adjusted earnings of $0.39 per share for the period.

Analysts on average had expected the company to earn $0.36 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 5.1% to $264.7 million from $251.9 million last year.

Box Inc earnings at a glance (GAAP) :

-Earnings (Q1): $11.5 Mln. vs. $3.7 Mln. last year. -EPS (Q1): $0.08 vs. $0.02 last year. -Revenue (Q1): $264.7 Mln vs. $251.9 Mln last year.