Cloud file-sharing company Box today announced that it generated a $33.1 million loss on $73.5 million in revenue for the second quarter of its fiscal year 2016, which ended on July 31. The company had a non-GAAP 28-cent net loss per share.
Analysts were expecting $69.81 million and a net loss of 29 cents per share. Box revenue for the quarter went up by 42.8 percent year over year.
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This is the third earnings release the Silicon Valley company has made after going public last year. Last quarter Box beat analysts’ estimates.
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Perhaps the biggest news in the quarter was a major partnership with IBM. Also, Box announced an integration with Office Online.
Box competes with Microsoft’s OneDrive as well as Dropbox and Google Drive, to name a few cloud syncing and sharing services.
Box stock was up 2 percent in after-hours trading immediately following the earnings release. The earnings call will begin at 2 p.m. Pacific.
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