Box (BOX) stock fell Tuesday after the company reported second-quarter results Tuesday that beat analyst estimates. But Box provided an outlook that was below expectations.
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Box said revenue was $148.2 million. That was ahead of analyst forecasts for $146.5 million. Box also reported an adjusted loss of 5 cents per share, also ahead of predictions for a 6-cent loss.
For the third quarter, Box expects revenue in the range of $154 million to $155 million. The midpoint is below the consensus estimate of $155 million. It expects an adjusted loss between 7 cents and 8 cents, vs. expectations of a 6-cent loss.
Shares of Box were down 3.6%, near 25.65, during after-hours trading on the stock market today. Box stock has more than doubled in price this year.
Box has expanded from data storage into cloud-based business-collaboration services, where it competes against Atlassian (TEAM) and well-funded startup Slack. The company is also a rival of Dropbox (DBX), which went public in March.
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The post Box Stock Down As Quarterly Earnings Beat, But Outlook Falls Short appeared first on Investor's Business Daily.
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