AP NEWS

Box: Fiscal 3Q Earnings Snapshot

November 26, 2019 GMT

REDWOOD CITY, Calif. (AP) _ Box Inc. (BOX) on Tuesday reported a loss of $40.9 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 and non-recurring costs, came to 1 cent per share.

The results met Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was also for a loss of 1 cent per share.

The online storage provider posted revenue of $177.2 million in the period, topping Street forecasts. Four analysts surveyed by Zacks expected $174.5 million.

For the current quarter ending in January, Box expects its per-share earnings to range from 4 cents to 5 cents.

The company said it expects revenue in the range of $181 million to $182 million for the fiscal fourth quarter. Analysts surveyed by Zacks had expected revenue of $73.6 million.

Box expects full-year earnings to be 1 cent per share, with revenue ranging from $693.7 million to $694.7 million.

Box shares have dropped almost 1% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $16.74, a decrease of 3% 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