Box Inc gains after Q1 earnings beat, inline outlook

Box

31/05/2023 11:27

** Shares of cloud firm Box Inc  BOX.N  up 2.5% at $28.72
premarket
    ** Q1 revenue and adj EPS top estimates - Refinitiv data
    ** Also raises FY24 adj EPS outlook but lowers revenue
forecast
    ** FY24 EPS and rev guidance in line with current analysts'
estimates
    ** Says guidance "reflects recent strengthening of U.S.
dollar vs yen and continued macro economy pressure on IT
spending environment"
    ** Sees Q2 revenue in $260-$262 mln range, with midpoint
slightly below analysts' estimate of $261.39 mln
    ** Forecasts Q2 adj EPS with midpoint in line with estimates
    ** Up to last close, stock had fallen ~10% YTD

 (Reporting by Ashwini Raj in Bengaluru)
 ((Ashwini.Raj@thomsonreuters.com))