AP NEWS

Box: Fiscal 3Q Earnings Snapshot

November 28, 2018

REDWOOD CITY, Calif. (AP) _ Box Inc. (BOX) on Wednesday reported a loss of $40.2 million in its fiscal third quarter.

The Redwood City, California-based company said it had a loss of 28 cents per share. Losses, adjusted for stock option expense, came to 6 cents per share.

The results surpassed Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for a loss of 7 cents per share.

The online storage provider posted revenue of $155.9 million in the period, which also topped Street forecasts. Eight analysts surveyed by Zacks expected $154.5 million.

For the current quarter ending in January, Box expects its per-share earnings to range from 2 cents to 3 cents.

The company said it expects revenue in the range of $163.5 million to $164.5 million for the fiscal fourth quarter. Analysts surveyed by Zacks had expected revenue of $73.6 million.

Box expects full-year results to range from a loss of 16 cents per share to a loss of 15 cents per share, with revenue ranging from $608.2 million to $609.2 million.

Box shares have declined 14 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $18.20, a drop of 20 percent 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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