Box Reports Q3 EPS Beat, Shares Up 6 percent

Box (NYSE:BOX) shares were trading more than 6% higher Thursday afternoon following the company’s reported Q3 results, with EPS of $0.31 coming in better than the Street estimate of $0.30. Revenue was $250 million, slightly missing the Street estimate of $251.31 million.
According to the analysts at Oppenheimer, the company’s operational execution remains strong and key customer metrics look solid with win rates unchanged, churn low, and Suites/multi-product traction continuing to grow.
The company expects Q4 EPS to be in the range of $0.34-$0.35, compared to the Street estimate of $0.33, and revenue in the range of $255-257 million, compared to the Street estimate of $259.25 million.
For fiscal 2023, the company expects EPS in the range of $1.16-$1.17, compared to the Street estimate of $1.14. Revenue is expected to be in the range of $990-992 million, compared to the Street estimate of $994.39 million.