REDWOOD CITY, Calif. (AP) — REDWOOD CITY, Calif. (AP) — Box Inc. (BOX) on Tuesday reported fiscal first-quarter net income of $17.7 million.
The Redwood City, California-based company said it had profit of 8 cents per share. Earnings, adjusted for one-time gains and costs, came to 37 cents per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 36 cents per share.
The online storage provider posted revenue of $305.9 million in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $304 million.
For the current quarter ending in July, Box expects its per-share earnings to be 39 cents.
The company said it expects revenue in the range of $319 million for the fiscal second quarter.
Box expects full-year earnings to be $1.56 per share, with revenue expected to be $1.28 billion.
Box shares have dropped 14% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $25.83, a decrease of 17% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BOX at https://www.zacks.com/ap/BOX
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