U.S. Markets closed

Box reports 4Q loss

REDWOOD CITY, Calif. (AP) _ Box Inc. (BOX) on Wednesday reported a loss of $36.9 million in its fiscal fourth quarter.

On a per-share basis, the Redwood City, California-based company said it had a loss of 28 cents. Losses, adjusted for stock option expense and non-recurring costs, were 10 cents per share.

The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for a loss of 13 cents per share.

The online storage provider posted revenue of $109.9 million in the period, which also beat Street forecasts. Five analysts surveyed by Zacks expected $108.7 million.

For the year, the company reported that its loss narrowed to $151.8 million, or $1.19 per share. Revenue was reported as $398.6 million.

For the current quarter ending in May, Box expects its results to range from a loss of 15 cents per share to a loss of 14 cents per share.

The company said it expects revenue in the range of $114 million to $115 million for the fiscal first quarter. Analysts surveyed by Zacks had expected revenue of $73.6 million.

Box expects full-year results to range from a loss of 49 cents per share to a loss of 45 cents per share, with revenue ranging from $500 million to $504 million.

Box shares have climbed 32 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $18.26, a rise of 58 percent in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BOX at https://www.zacks.com/ap/BOX

_____

Keywords: Box, Earnings Report