Box Falls After 2020 Guidance Comes In Lower Than Expected

Box Inc BOX fell in Monday's after-hours session despite reporting a first-quarter earnings beat.

Box reported adjusted earnings of $(0.03) per share, which beat the consensus estimates by 2 cents. Sales of $162.97 million also beat the $161.45-million estimate.

Box sees adjusted second-quarter EPS of $(0.02)-$(0.01) versus a $(0.02) estimate on sales of $169 million-$170 million, which is at the lower end of the estimated range. The company sees FY2020 sales of $688 million-$692 million, below the $701.9-million estimate.

Box's stock traded around $16.65 per share at time of publication, down 7.1 percent in after-hours trading. Shares closed the regular session at $17.93.