REDWOOD CITY, Calif. (AP) — REDWOOD CITY, Calif. (AP) — Box Inc. (BOX) on Tuesday reported fiscal second-quarter net income of $10.8 million, after reporting a loss in the same period a year earlier.
The Redwood City, California-based company said it had net income of 4 cents per share. Earnings, adjusted for one-time gains and costs, were 36 cents per share.
The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 35 cents per share.
The online storage provider posted revenue of $261.4 million in the period, also topping Street forecasts. Seven analysts surveyed by Zacks expected $261 million.
For the current quarter ending in October, Box expects its per-share earnings to range from 37 cents to 38 cents.
The company said it expects revenue in the range of $261 million to $263 million for the fiscal third quarter. Analysts surveyed by Zacks had expected revenue of $73.6 million.
Box expects full-year earnings in the range of $1.46 to $1.50 per share, with revenue expected to be $1.04 billion.
Box shares have declined 1% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $30.80, an increase of 16% in the last 12 months.