Box: Fiscal 3Q Earnings Snapshot
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.