Box (NYSE: BOX), the content cloud platform that enables organizations to manage the entire content lifecycle was down in pre-market trading on Wednesday as it reported second-quarter results that were barely above estimates. The company announced adjusted earnings of $0.36, up by 28.6% year-over-year and above consensus estimates of $0.35 per share.
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The company’s Q2 revenues increased by 6% year-over-year to $261.4 million versus Street estimates of $261.32 million.
Looking forward, the management expects Q3 revenues to be in the range of $261 million to $263 million with adjusted diluted net income estimated to be between $0.37 and $0.38 per share. In FY24, Box has projected revenues in the range of $1.040 billion to $1.044 billion while adjusted earnings are anticipated to be between $1.46 and $1.50 per share. For reference, analysts were expecting revenues of $1.05 billion.
Analysts were cautiously optimistic about BOX stock with a Moderate Buy consensus rating based on five Buys, and one Hold and Sell each.
