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Box Shares Drop 9% Following Q3 Results
Dec 6, 2023 5:18 PM - Davit Kirakosyan(Last modified: Dec 19, 2023 5:49 PM)
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Shares of Box (NYSE:BOX) experienced a 9% decline intra-day today following the release of their third-quarter results.
The company reported earnings per share (EPS) of $0.36, which was below the Street estimate of $0.38. Box's revenue saw a 5% year-over-year increase, reaching $262 million. However, this figure slightly missed the consensus estimate of $262.37 million.
Looking ahead to the fourth quarter of 2024, Box anticipates an EPS in the range of $0.38 to $0.39. This forecast is lower than the Street estimate of $0.42. The company also expects revenue to be between $262 million and $264 million, which falls short of the consensus prediction of $266.96 million.
For the full year, Box projects its EPS to be between $1.42 and $1.43, again lower than the Street estimate of $1.49. The company's expected revenue for the year is set to be between $1.037 billion and $1.039 billion, which is slightly below the consensus estimate of $1.04 billion.
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