Box Shares Lose Ground in Thursday’s Trading Session

Shares of Box (BOX) - Get Report slumped during Thursday's trading session despite reporting quarterly results that topped forecasts on both the top and the bottom line. But, there were concerns a 'key billing metric' was below forecasts. Despite strong first-quarter sales of $90 million, which were up 37 percent from the same period last year and higher than Wall Street estimates of $80 million, the company's billings fell shy of projections. The shortfall prompted some investor concerns over cooling growth, according to JMP Securities. As part of the quarterly report, Box also said it brought in more than 5,000 new customers and raised its revenue guidance range for the 2017 fiscal year to between $391 to $395 million, up from its previous outlook of $390 to $394 million.

This article was written by a staff member of TheStreet.