Box raises full-year revenue forecast as demand for its services rises


Dong Wenjie | Moment | Getty Images

Box raised its full-year revenue forecast on Tuesday after reporting better-than-expected third-quarter sales, as the cloud management platform benefited from higher customer addition.

Shares of the Redwood City, California-based company rose about 4% in extended trading.

Box raised full-year revenue forecast to a range of $693.7 million to $694.7 million compared with its earlier expectation of $690 million to $692 million, the midpoint of which is above analysts’ estimate of $690.9 million, according to IBES data from Refinitiv.

High volume of large enterprise deals and increased sale of add-on products boosted revenue in the quarter, Chief Executive…

Source cnbc.com

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