Box Q1 Net Income $17.7M, Adjusted EPS 37¢ Tops Forecast, Guides Higher
BOX•Box reported fiscal first-quarter net income of $17.7 million and adjusted earnings of $0.37 per share, surpassing analyst forecasts by a cent. Revenue reached $305.9 million, and management forecast second-quarter revenue of $319 million with 39¢ adjusted EPS, lifting full-year outlook to $1.56 per share on $1.28 billion revenue.
1. Fiscal First-Quarter Results
Box posted net income of $17.7 million for the fiscal first quarter, translating to a GAAP 8-cent per-share profit and an adjusted 37-cent EPS that outstripped the consensus by one cent. Revenue totaled $305.9 million, exceeding the prior-year period and analyst expectations by nearly $2 million.
2. Second-Quarter and Full-Year Guidance
Management projected second-quarter revenue of $319 million with adjusted EPS of 39 cents, implying sequential growth in subscription services. For the full fiscal year, Box foresees $1.28 billion in revenue and $1.56 in EPS, reflecting continued strength in its cloud storage and collaboration offerings.
3. Share Performance
Box shares have declined 14% year-to-date and dropped 17% over the past 12 months, closing the session at $25.83. The pullback follows a broader technology sector slowdown despite the company's consistent earnings beats.
