Box is no longer below its IPO price after earnings beat

Box reported second quarter earnings on Wednesday, and it was an overall beat.

Box shares rose after the report, and are wavering between 2% and 3% up after hours.

The enterprise file storage company posted adjusted loss per share of $US0.28, beating analyst expectations of a loss of $US0.29 per share.

Sales was a beat too, reaching $US73.5 million versus the forecast of $US69.81 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,” Box CEO Aaron Levie said in a statement.

Box had some big new signups in the past quarter, including Airbnb, LinkedIn, and Twitter. It also signed a huge partnership deal with IBM that will help it reach deeper into the enterprise segment.

But Box shares have been trading at record-low levels in recent weeks, especially following the expiration of a lockup period, which allowed investors to start selling its shares. Box faces another lockup expiration this coming Monday, when executives and employees will be able to start trading their own shares.

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