Box Inc. shares rose 3% after hours Wednesday after the company beat second-quarter earnings and revenue expectations. Box reported a net loss of $49.8 million, or a loss of 42 cents per share, compared to a loss of $38.3 million, or a loss of $2.71 per share, in the year-earlier period. Box reported an adjusted loss per share of 28 cents, narrower than the FactSet consensus of a loss of 29 cents. It reported revenue of $73.5 million, up from $51.4 million in the year-earlier period and above the FactSet consensus of $69.7 million. Box issued third-quarter guidance for revenue in the range of $76 million to $77 million above the FactSet consensus of $74.2 million. "We delivered another strong quarter with year over year revenue growth of 43% and billings growth of 45% driven by new and expanding customer deployments," said Aaron Levie, CEO of Box. Shares of Box have fallen 16% in the past three months, compared to the S&P 500's loss of 7%
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