Box Raises Outlook, Shares Surge After Q1 Beat

Box Inc. reported first-quarter revenue of $276.3 million and adjusted earnings per share of $0.30, both exceeding analyst expectations. Billings rose 27% year-over-year, and remaining performance obligations increased 21% to $1.469 billion, though net profit declined compared to the previous year. The company raised its full-year revenue guidance to between $1.165 billion and $1.17 billion and expects adjusted EPS of $1.22 to $1.26, both above earlier forecasts. Recent launches of AI tools have driven client adoption and productivity improvements. Despite only modest revenue growth over the past three years, Box projects 7.6% year-over-year sales growth for the next quarter. Following the strong results and improved outlook, Box shares surged over 11% in after-hours trading.