Box: Fiscal 1Q Earnings Snapshot
REDWOOD CITY, Calif. (AP) _ Box Inc. (BOX) on Monday reported a loss of $36.8 million in its fiscal first quarter.
On a per-share basis, the Redwood City, California-based company said it had a loss of 25 cents. Losses, adjusted for stock option expense, were 3 cents per share.
The results beat Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for a loss of 5 cents per share.
The online storage provider posted revenue of $163 million in the period, also topping Street forecasts. Nine analysts surveyed by Zacks expected $161.5 million.
For the current quarter ending in August, Box expects its results to range from a loss of 2 cents per share to a loss of 1 cent per share.
The company said it expects revenue in the range of $169 million to $170 million for the fiscal second quarter. Analysts surveyed by Zacks had expected revenue of $73.6 million.
Box expects full-year results to range from a loss of $1.05 per share to earnings of 2 cents per share, with revenue ranging from $688 million to $692 million.
Box shares have increased 6% since the beginning of the year. In the final minutes of trading on Monday, shares hit $17.92, a decrease of 32% in the last 12 months.