Box Inc (NYSE: BOX) beats Q3 estimates, lifts FY19 outlook
November 28, 2018
Box Inc’s (NYSE: BOX) third quarter 2019 results beat analysts’ views. The company posted a loss of 6 cents per share on revenues of 5.9 million. Analysts expected the cloud technology company to post a loss of 7 cents per share and revenue in the range of 4-155 million. The stock was up about 3% during the extended trading hours.
The 21% revenue growth in the quarter was driven by customer retention and customer expansion. GAAP net loss for the quarter narrowed to 28 cents per share from 32 cents loss per share reported in the prior-year quarter. Paying customers grew to more than 90,000 from 87,000 at the end of second quarter.
For Q4, the cloud content management company expects GAAP loss per share to be in the range of .21 to .20 and non-GAAP loss per share to be in the range of .02 to .03. Revenue is expected to be in the range of 3.5 million to 4.5 million.
Box lifted its FY19 revenue outlook to a range of 8.2 million to 9.2 million compared to the prior estimate of 6 million to 8 million. Non-GAAP loss per share is expected to be .16 to .15 versus the prior forecast of .18 to .16.
Box Inc (NYSE: BOX) Q3 2019 Earnings Call