Box Beats And Raises Guidance, Stock Jumps 6%

Box Inc. reported slightly better than expected losses and revenue Wednesday, and shares gained in late trading. The cloud-software company reported a net loss of $40.1 million, or 30 cents a share, on sales of $117.2 million for its fiscal first quarter. After adjustments for stock-based compensation and amortization, Box reported a loss of 13 cents a share. Analysts on average expected a loss of 14 cents a share on sales of $114.7 million, according to FactSet. The company reported positive free cash flow for the second consecutive quarter, amid a push to report positive cash generation for the entire year. Box also slightly raised its full-year estimates, predicting revenue of $502 million to $506 million after previous guidance of $500 million to $504 million, with adjusted losses now expected to be 44 cents to 48 cents a share against a previous forecast of 45 cents to 49 cents a share. Box stock jumped more than 6% in immediate after-hours trading following the release of the report, hitting levels that would be a 52-week high.