Shares of Box plummeted as much as 18 percent in after hours trading after the company reported fourth quarter 2019 revenue that missed analyst expectations. The company also reported weak guidance for the next quarter.
Here are the numbers Box reported compared to Wall Street expectations:
- Earnings per share: $0.06 per share ex-items vs. estimate of $0.02 per share, per Refinitiv
- Revenue: $163.7 million vs. estimate of $164.2 million, per Refinitiv
Box expects revenue between $161 million and $162 million for its Q1 2020.
In a statement in the earnings release, Box CEO Aaron Levie blamed weak billing results in part on longer sales cycles for some of its bigger deals.
This story is developing. Check back for updates.
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