REDWOOD CITY, Calif. (AP) — REDWOOD CITY, Calif. (AP) — Box Inc. (BOX) on Tuesday reported fiscal first-quarter net income of $8.4 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Redwood City, California-based company said it had net income of 2 cents. Earnings, adjusted for one-time gains and costs, were 32 cents per share.
The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 27 cents per share.
The online storage provider posted revenue of $251.9 million in the period, which also topped Street forecasts. Seven analysts surveyed by Zacks expected $249.3 million.
For the current quarter ending in July, Box expects its per-share earnings to range from 34 cents to 35 cents.
The company said it expects revenue in the range of $260 million to $262 million for the fiscal second quarter. Analysts surveyed by Zacks had expected revenue of $73.6 million.
Box expects full-year earnings in the range of $1.44 to $1.50 per share, with revenue ranging from $1.05 billion to $1.06 billion.
Box shares have decreased 10% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $27.99, a climb of slightly more than 4% in the last 12 months.
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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
