Box: Fiscal 3Q Earnings Snapshot
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.