Box Shares Rally After Quarterly Results, Outlook Top Street View

Box Inc. shares rallied in the extended session Wednesday after the cloud-storage company's quarterly results and outlook topped Wall Street expectations. Box shares surged 12% to $14 after hours. The company reported an adjusted fourth-quarter loss of 26 cents a share on revenue of $85 million. Analysts surveyed by FactSet had forecast a loss of 29 cents a share on revenue of $81.7 million. Box forecast a loss of 23 cents to 24 cents a share on revenue of $88 million to $89 million for the first quarter, and an adjusted loss of 83 cents to 85 cents a share on revenue of $390 million to $394 million for the year. Analysts expect a loss of 24 cents on revenue of $86.9 million for the first quarter, and a loss of 88 cents on revenue of $392 million for the year.