Cloud storage provider Box beats Street as more customers sign up

Reuters News
Posted: Jun 10, 2015 4:32 PM

(Reuters) - Cloud storage provider Box Inc reported better-than-expected quarterly revenue as more customers subscribed to its content-sharing platform.

The company's net loss attributable to shareholders widened to $47.3 million, or 40 cents per share, in the first quarter ended April 30, from $38.6 million, or $2.81 per share, a year earlier.

Excluding items, the company reported a loss of 28 cents per share, beating the average analyst estimate of 31 cents, according to Thomson Reuters I/B/E/S.

The company added more than 2,000 customers in the quarter, taking its total number of customers above 47,000.

Revenue rose 44.8 percent to $65.6 million, beating the average estimate of $63.7 million.

(Reporting by Kshitiz Goliya in Bengaluru; Editing by Simon Jennings)