Box Stock Is Falling in After-Hours Trading Today on Earnings Miss
NEW YORK (TheStreet) -- Shares of Box (BOX) - Get Report were falling 8.3% to $18.82 after-hours Wednesday after the cloud storage company missed analysts' estimates for earnings in the fourth quarter of fiscal 2015, its first earnings report since going public earlier this year.
Box reported a loss of $1.65 a share for the fourth quarter of fiscal 2015, below analysts' estimates of a loss of $1.17 a share for the quarter. Revenue grew 61% from the year-ago quarter to $62.6 million for the quarter, above analysts' estimates of $57.99 million for the quarter.
The company said it expects to report revenue of $63 million to $64 million for the first quarter of fiscal 2016, compared to analysts' estimates of $61.78 million.
Box expects revenue of $281 million to $285 million for fiscal 2016, above analysts' estimates of $276.9 million.