Box Loss Narrower Than Estimates, Lifts FY Revenue Guidance; Stock Up 10%

(RTTNews) - Box Inc (BOX), an enterprise software platform for secure content collaboration, on Wednesday reported first-quarter net loss of $47.3 million or $0.40 per share compared with a loss of $38.6 million or $2.81 per share last year.

Loss per share results for the latest quarter reflected a higher share count.

Excluding stock-based compensation expense and other one-time items, adjusted loss for the quarter was $0.28 per share compared with a loss of $2.32 per share a year ago.

Revenues for the quarter were higher at $65.6 million compared with $45.3 million in the prior year.

Analysts polled by Thomson Reuters estimated a loss of $0.31 per share on revenues of $63.7 million for the quarter. Analysts' estimates typically exclude special items.

For the second quarter, Box expects revenues of $69 million to $70 million, while analysts expect $67 million for the quarter.

For the full year 2016, the company now expects revenues of $286 million to $290 million, from prior guidance of $281 million to $285 million. Analysts expect revenues of $283.4 million.