Box's earnings and forecasts beat expectations across the board, and shares looked to recapture value lost after a disappointing forecast 3 months ago.
Box Inc.’s earnings and forecasts beat expectations across the board Tuesday, with the exception of a slight shaving of executives’ annual revenue guidance, and shares looked to recapture value that was lost after a disappointing forecast three months ago.
Box BOX reported a fiscal first-quarter profit of $3.7 million, or 2 cents a share, on revenue of $251.9 million, up from $238.4 million a year ago. After adjusting for stock compensation and other effects, the cloud-software company reported earnings of 32 cents a share, up from 23 cents a share in the same period last year. Billings, which reflect business under contract but not yet realized, totaled $191.9 million, up from $172.2 million a year ago.
For the fiscal second quarter, Box executives guided for adjusted earnings of 34 cents to 35 cents a share on sales of $260 million to $262 million, topping analysts’ estimates. Analysts on average were projecting second-quarter adjusted earnings of 32 cents a share on sales of $260 million, according to FactSet.
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