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Box shares fall 8% after guidance disappoints

Rachel Cao

Shares of Box (NYSE: BOX) fell 8.1 percent Thursday after the online file-sharing company gave lower-than-expected guidance for the first quarter .

Box on Wednesday projected a loss of 14 cents to 15 cents a share on revenue of $114 million to $115 million. Wall Street had expected losses of 12 cents per share on revenue of $115.1 million for its first quarter, according to Thomson Reuters consensus estimates.

The cloud computing company did hit its goal of generating positive free cash flow by the fourth quarter of 2017 fiscal year. That means Box had cash left over from its normal business operations after spending on investments known as capital expenditures.

BOX shares year-to-date performance

"These results demonstrate the strength of our business model and our operating discipline as we work towards the goal of achieving positive free cash flow for the full year of fiscal 2018," Box co-founder and CFO Dylan Smith said in a release.

Fourth quarter earnings also came in better than expectations. Box posted losses 10 cents per share on revenue of $109.9 million, while analysts had expected losses of 14 cents per share on revenue of $108.9 million, according to Thomson Reuters consensus estimates.

Special programming note: Box CEO Aaron Levie will appear on CNBC's " Mad Money " Thursday night at 6 PM ET.



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