By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
IndebtaIndebta
  • Home
  • News
  • Banking
  • Credit Cards
  • Loans
  • Mortgage
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Crypto
    • Forex
  • Videos
  • More
    • Finance
    • Dept Management
    • Small Business
Notification Show More
Aa
IndebtaIndebta
Aa
  • Banking
  • Credit Cards
  • Loans
  • Dept Management
  • Mortgage
  • Markets
  • Investing
  • Small Business
  • Videos
  • Home
  • News
  • Banking
  • Credit Cards
  • Loans
  • Mortgage
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Crypto
    • Forex
  • Videos
  • More
    • Finance
    • Dept Management
    • Small Business
Follow US
Indebta > Investing > Box posts first $1 billion fiscal year as AI sales pick up
Investing

Box posts first $1 billion fiscal year as AI sales pick up

News Room
Last updated: 2024/03/05 at 11:10 PM
By News Room
Share
2 Min Read
SHARE

Box Inc.’s stock rose about 2% after hours Tuesday after the software company reported its first $1 billion fiscal year and announced a $100 million share-buyback program.

“Customers in financial services are upgrading to Box AI,” Box Chief Executive Aaron Levie said in an interview, referring to a new suite of capabilities that will integrate advanced AI models into the Box Content Cloud. The company also announced integration with Microsoft Corp.’s
MSFT,
-2.96%
Azure OpenAI on Box AI.

“AI and data and content are powering automated work flows like invoice processing and contract details,” Levie said.

The company
BOX,
-2.26%
reported fiscal fourth-quarter net income of $99.2 million, or 57 cents a share, compared with net income of $20.5 million, or 10 cents a share, in the year-prior quarter. Adjusted earnings were 42 cents a share.

Revenue increased 2% to $262.9 million, from $256.5 million in the same quarter a year ago. Fiscal-year revenue topped $1 billion for the first time.

Analysts surveyed by FactSet had, on average, expected net income of 38 cents a share on revenue of $263.3 million.

Box executives said they anticipate sales of $261 million to $263 million in the current first quarter. Analysts polled by FactSet are expecting $262 million.

Shares of Box have been mostly flat over the past year, while the S&P 500 index
SPX
 is up 27%.

Read the full article here

News Room March 5, 2024 March 5, 2024
Share this Article
Facebook Twitter Copy Link Print
Leave a comment Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Finance Weekly Newsletter

Join now for the latest news, tips, and analysis about personal finance, credit cards, dept management, and many more from our experts.
Join Now
Trump’s ‘intelligent’ copper tariffs will ‘wake people up’, says mining billionaire

Unlock the White House Watch newsletter for freeYour guide to what Trump’s…

Market volatility recedes as investors brush off Donald Trump’s tariff threats

Unlock the White House Watch newsletter for freeYour guide to what Trump’s…

Delta offers rosier outlook as flight demand ‘stabilises’

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects…

ICE dragnet strikes terror in US immigrant communities

Ahisary moved from her home in Mexico in 1993 to South Central…

Dutch pension funds set to sell €125bn of government bonds

Stay informed with free updatesSimply sign up to the Sovereign bonds myFT…

- Advertisement -
Ad imageAd image

You Might Also Like

Investing

Nursing Home Stocks Could Suffer from this Medicaid Spending Remedy

By News Room
Investing

Bitcoin Drops Below $90,000 Again. What Could Move It Next.

By News Room
Investing

These Stocks Are Moving the Most Today: Marvell, Nvidia, Broadcom, GM, Tesla, MongoDB, Burlington, and More

By News Room
Investing

Nvidia Stock Falls as Marvell Earnings Compound AI Gloom. The Rising Risks for Chips.

By News Room
Investing

This analyst says Tesla deliveries will be 16% below expectations. Musk is part of the problem.

By News Room
Investing

BP CEO was awarded no bonus pay from oil giant’s financial performance

By News Room
Investing

Shares of Starlink’s European competitor have tripled. CEO says it can do the job in Ukraine.

By News Room
Investing

GE Vernova Stock Rises as Analyst Flips to Upgrade After Rating Cut

By News Room
Facebook Twitter Pinterest Youtube Instagram
Company
  • Privacy Policy
  • Terms & Conditions
  • Press Release
  • Contact
  • Advertisement
More Info
  • Newsletter
  • Market Data
  • Credit Cards
  • Videos

Sign Up For Free

Subscribe to our newsletter and don't miss out on our programs, webinars and trainings.

I have read and agree to the terms & conditions
Join Community

2023 © Indepta.com. All Rights Reserved.

Welcome Back!

Sign in to your account

Lost your password?