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Box beats revenue estimates on demand for remote-work tools

May 27 (Reuters) - Box Inc reported better-than-expected quarterly revenue on Wednesday, as the global shift to work from home due to the coronavirus crisis boosted demand for its online collaboration tools.

The company's revenue rose 13% to $183.6 million in the first quarter, above analysts' average estimate of $181.91 million, according to IBES data from Refinitiv.

"The need for more organizations to develop remote work and digital transformation strategies on modern cloud platforms has never been greater," Co-founder and Chief Executive Officer Aaron Levie said in a statement.

Box's first-quarter billings, which is revenue plus the change in deferred revenue, rose 8% to $128.1 million.

Net loss narrowed to $25.6 million, or 17 cents, in the quarter ended April 30, from a loss of $36.8 million, or 25 cents, a year earlier. (Reporting by Munsif Vengattil in Bengaluru; Editing by Aditya Soni)