Market Overview

Box Posts In-Line Q3 Loss, Raises Revenue Outlook

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Box Inc (NYSE: BOX) reported in-line loss for the third quarter on Thursday.

The Los Altos, California-based company reported a quarterly loss of $55.1 million, or $0.45 per share, versus a year-ago loss of $51.2 million, or $3.40 per share. Excluding certain items, the company lost $0.31 per share.

Its revenue surged 38 percent to $78.7 million. However, analysts were expecting a loss of $0.31 per share on revenue of $76.76 million.

Billings climbed 37 percent year-over-year to $89.4 million in the third quarter.

As of October 31, 2015, the company had $244 million in cash, cash equivalents, marketable securities, and restricted cash.

"Enterprises in every industry are moving content to the cloud by investing in modern platforms that accelerate employee productivity and replace legacy systems," said Aaron Levie, co-founder and CEO of Box. "As our strong revenue growth in Q3 indicates, Box is uniquely positioned to drive this transition. We continue to deliver innovations like Box Governance and Box Platform that differentiate us from competitors and assist our global customers to standardize on Box as their next-generation content platform."

For the fourth quarter, Box expects revenue of $81 million to $82 million, versus analysts' estimates of $80.8 million.

Box raised its revenue forecast for the year to $299 million to $300 million, versus prior forecast of $295 million to $297 million.

Box shares fell 1.13 percent to $14.00 in the after-hours trading session.

Posted-In: lossEarnings News Guidance

 

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