Box’s stock is sinking after it served up a weak revenue forecast in Q2 earnings report

caption
Box CEO Aaron Levie missed Wall Street’s revenue target
source
Reuters

Box, the file sharing and storage company, beat Wall Street targets for Q2 revenue on Wednesday, but not without a little kerfuffle.

While the company served up a weak financial forecast, its stock dropped disproportionately – possibly because of a widespread analyst error, which made it look like Box missed on revenue expectations.

Share of Box immediately sank 7% in the moments following its report, but regained some ground and are now down roughly 4% in after hours trading.

Here are the numbers. The analyst estimates are from Bloomberg.

    Revenue (GAAP) – $122.9 million. This is compared to analyst estimates of $121.917 million. Earnings per share (adjusted) – Loss of $0.11 per share. This is compared to analyst estimates of a loss of $0.125 per share. Q3 projected revenues (GAAP) – range of $128 million to $129 million. This is compared to analyst projections of $129.08 million. Q3 projected earnings per share (adjusted) – Loss of $0.14 per share to loss of $0.13 per share. This is compared to the average analyst estimate of loss of $0.125 per share. Fiscal 2018 project revenues (GAAP)- $503 million to $506 million. Fiscal 2018 project earnings per share (adjusted) – Loss of $0.46 per share to loss of $0.44 per share.