Shares of the cloud storage pioneer Box Inc. moved higher in extended trading today after it delivered another earnings and revenue beat and raised its full-year guidance, citing momentum with its artificial intelligence offerings.

The company reported second-quarter earnings before certain costs such as stock compensation of 33 cents per share, edging past the analyst’s target of 31 cents. Revenue for the period increased 9% from a year earlier, to $294 million, also topping Wall Street’s forecast. Analysts had been looking for sales of just $291 million.

Box also reported $264.9 million in billings, representing growth of 3% from a year earlier. Billings are seen as a gauge of future revenue, as the number represents the total amount invoiced to customers during the quarter for products and services delivered, but not yet paid.

The only real blot on Box’s report was a slight decline in its profitability. It recorded net income of $13.4 million in the quarter, down from a profit of $20.5 million in the year-ago period.

Nonetheless, Box co-founder and Chief Executive Aaron Levie (pictured) was quick to highlight the potential of the company’s Intelligent Content Management platform, with its recent infusion of agentic AI capabilities.

“Enterprises can finally leverage AI agents to take full advantage of their unstructured data,” Levie said. “In the second quarter, we continued to see strong momentum with Enterprise Advanced, which delivers intelligent workflow automation, advanced AI, powerful AI agents and secure content management in one plan.”

Box has emerged at the forefront of the enterprise AI push, putting the technology at the front and center of its content management tools. Its AI offerings are centered on the Box AI suite, which launched in 2023 and includes a host of AI agents that can automate repetitive tasks on behalf of its users. With Box AI Studio, companies can even create their own AI agents.

“In this AI-first era, we are doubling down on our Intelligent Content Management platform and will continue to execute on our innovative product roadmap as we shape the future of work,” Levie added.

Box said it’s upping its full-year guidance, and now expects total revenue of between $1.17 billion and $1.18 billion, which would mean growth of 8% at the midpoint of that range. Previously, it was targeting growth of 7%. As for earnings, it’s now targeting a profit of between $1.26 and $1.28 per share, up from a prior range of $1.22 to $1.26. Wall Street is modeling full-year revenue of $1.17 billion and earnings of $1.26 per share.

Box’s guidance for the current quarter was slightly less encouraging, though. It said it’s looking for earnings of between 31 and 32 cents per share on sales of $298 million to $299 million. Wall Street analysts have forecast earnings of 32 cents per share on revenue of $298 million.

Shares of Box gained more than 4% in after-hours trading on the back of today’s report, but despite that movement, the stock is still down 1% in the year to date.

Photo: The Demo Conference/Flickr