Box Loss Narrower Than Estimates; Lifts FY Guidance

(RTTNews) - Box Inc (BOX), a provider of cloud-based enterprise content collaboration platform, on Wednesday reported second-quarter net loss of $50.2 million or $0.42 per share compared with a loss of $39.4 million or $2.71 per share last year.

Excluding items, adjusted loss for the quarter were $0.28 per share compared with a loss of $2.01 per share a year ago.

Revenues for the quarter were $73.5 million compared with $51.4 million in the prior year.

Analysts polled by Thomson Reuters estimated a loss of $0.29 per share on revenues of $69.8 million for the quarter. Analysts' estimates typically exclude special items.

For the third quarter, the company expects revenues of $76 million to $77 million, while analysts expect $74.3 million.

For the full year 2016, the company now expects revenues of $295 million to $297 million, from prior guidance of $286 million to $290 million. Analysts expect revenues of $289.6 million.