AP NEWS

Box: Fiscal 1Q Earnings Snapshot

June 3, 2019

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.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BOX at https://www.zacks.com/ap/BOX

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