Shares of Box Inc. (BOX) surged 11.92% in pre-market trading on Wednesday following the release of the company's impressive first-quarter fiscal 2026 results. The content cloud leader not only exceeded analyst expectations but also showcased strong momentum in its artificial intelligence (AI) offerings, prompting a raise in full-year guidance.
Box reported Q1 revenue of $276.3 million, up 4.4% year-over-year and beating the consensus estimate of $274.8 million. Non-GAAP earnings per share came in at $0.30, surpassing analysts' expectations of $0.26. The company's robust performance was driven by growing demand for its AI-powered solutions, with CEO Aaron Levie emphasizing Box's focus on building "the leading Intelligent Content Management Platform to help enterprises fully connect the power of AI to their content."
Investors were particularly encouraged by Box's decision to raise its full-year guidance. The company now expects fiscal year 2026 revenue between $1.165 billion and $1.170 billion, up from its previous forecast. Box also increased its annual adjusted earnings guidance to a range of $1.22 to $1.26 per share. This optimistic outlook, coupled with the strong Q1 results and the company's strategic positioning in the AI-driven content management space, appears to be fueling investor enthusiasm and driving the significant pre-market stock surge.
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