Earnings

Box earnings Q1 2021

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Box forecast annual revenue above analysts’ estimates and beat targets for quarterly sales on Wednesday, as demand rises for its online collaboration tools due to the global shift to work from home caused by the Covid-19 pandemic.

Box is the latest to signal the lift from firms increasingly using video conferencing and other remote work tools to keep their operations running, which has also benefited companies such as Microsoft, Cisco Systems and Zoom Video Communications.

In an interview with Reuters, Chief Executive Officer Aaron Levie said Box saw an uptick in demand from large enterprises during the quarter, helping it close more than 40 deals with a combined worth of over $100,000.

The…



Source cnbc.com

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