Box BOX, +0.54% reported a fiscal first-quarter profit of $3.7 million, or 2 cents a share, on revenue of $251.9 million, up from $238.4 million a year ago. After adjusting for stock compensation and other effects, the cloud-software company reported earnings of 32 cents a share, up from 23 cents a share in the same period last year. Billings, which reflect business under contract but not yet realized, totaled $191.9 million, up from $172.2 million a year ago.

Analysts on average had projected adjusted earnings of 27 cents a share on revenue of $250 million and billings of $180 million, according to FactSet. Shares jumped almost 8% in after-hours trading immediately following the release of the report, but ended Wednesday’s session with a 0.5% gain.

For the fiscal second quarter, Box executives guided for adjusted earnings of 34 cents to 35 cents a share on sales of $260 million to $262 million, topping analysts’ estimates. Analysts on average were projecting second-quarter adjusted earnings of 32 cents a share on sales of $260 million, according to FactSet.

Box executives also increased their full-year earnings target, while slightly decreasing their annual guidance for revenue. They now expect adjusted earnings of $1.44 to $1.50 a share, after previously stating $1.42 to $1.48 a share, on revenue of $1.045 billion to $1.055 billion, down from a previous range of $1.05 billion to $1.06 billion.

Box shares dove nearly 13% after its previous quarterly earnings report, as its fiscal first-quarter revenue guidance came in roughly $10 million lower than analysts expected. That decline brought the stock closer to the S&P 500 index’s SPX, -0.61% performance in the past year — Box shares have gained 4.3% in the past 12 months, as the S&P 500 has gained 1.1%