Content cloud company Box Inc.
BOX,
+0.84%
raised its second-quarter and full-year guidance on Thursday and said it continues to see an acceleration across the business. The company is now expecting revenue of about $214 million for an 11% gain on the year-earlier period, up from prior guidance of $211 million to $212 million. It expects billings of about $213 million, up 13% from a year ago and compared with guidance for mid-single digit growth. The company's net retention rate stood at about 106% in the quarter, up from 103% in the previous quarter. For the third quarter, Box expects revenue of $218 million to $219 million, up 11% to 12% year-on-year. It expects full-year revenue of $856 million to $860 million, compared with earlier guidance of $845 million to $853 million. Shares rose 2% premarket and have gained 40% in the year to date, while the S&P 500
SPX,
+0.25%
has gained 18%.