Box Inc slumps on weak Q1 forecast

Box

02/03/2023 13:50

** Shares of cloud firm Box Inc  BOX.N  down 10.8% at $29.96
premarket
    ** Company sees Q1 FY24 revenue at $248 mln-$250 mln vs
analysts' est of $260.2 mln - Refinitiv
    ** Box forecasts Q1 adj profit between 26 cents and 27 cents
per share vs est 31 cents/shr
    ** Macro commentary was downbeat and margin upside appears
not enough to offset the growth slowdown, says RBC Capital
Markets
    ** Through last close, Box stock up 7.9% so far this year

 (Reporting by Samrhitha Arunasalam in Bengaluru)
 ((Samrhitha.A@thomsonreuters.com))