NEW YORK (TheStreet) -- Shares of Box Inc (BOX) were soaring, sharply up 13.83% to $19.26 on heavy volume in after-hours trading Wednesday, following the online data storage provider's better than expected first-quarter earnings results after the market closed today.
Box, which went public earlier this year, posted a loss of 28 cents per share on revenue of $65.6 million for the first quarter.
Both the top and bottom line surpassed Wall Street estimates. The company was expected to post a loss of 31 cents per share on sales of $63.7 million, according to analysts surveyed by Thomson Reuters.
The cloud storage provider said more customers subscribed to its content-sharing platform in the first quarter. It added more than 2,000 customers for the period, upping its total number of customers to above 47,000.
Looking ahead, Box expects revenue for the current quarter ending in July to come in between $69 million to $70 million.