November 28, 2018 / 9:07 PM / 14 days ago

Cloud storage firm Box reports 20.6 pct rise in quarterly revenue

Nov 28 (Reuters) - Box Inc reported a 20.6 percent rise in quarterly revenue on Wednesday as the cloud storage provider added more customers.

The company’s net loss narrowed to $40.2 million, or 28 cents per share, in the third-quarter ended Oct. 31, from $42.9 million, or 32 cents per share, a year earlier.

Box, which also competes with Microsoft Corp’s OneDrive and Google’s Drive, had more than 90,000 paying customers in the quarter, up from 87,000 in the previous quarter.

Revenue rose to $155.9 million from $129.3 million. (Reporting by Akanksha Rana in Bengaluru; Editing by Shailesh Kuber)

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