Box Inc (NYSE:BOX) shares fell more than 7% after-hours following the company’s reported Q2 results. EPS came in at $0.36, better than the consensus estimate of $0.35.
Revenue increased 6% year-over-year (up 9% in constant currency) to $261.43 million, compared to the consensus estimate of $261.32M. Despite better-than-expected Q2 results, the company provided a soft guidance.
“While ongoing economic factors have affected our customers’ IT budgets and put pressure on our projected fiscal 2024 growth rate, we remain committed to our long-term revenue growth targets as we continue to drive gross margin and operating margin expansion in FY24 and beyond,” said CFO Dylan Smith.
For Q3/24, the company expects EPS in the range of $0.37-$0.38 and revenue in the range of $261-$263M.
For the full year, the company sees EPS in the range of $1.46-$1.50 and revenue in the range of $1.040-$1.044 billion.