Tech: Box's stock is sinking after it served up a weak revenue forecast in Q2 earnings report (BOX)

Box beat with revenues of $122.9 million, compared to analyst expectations of $121.92 million

Box, the file sharing and storage company, beat Wall Street targets for Q2 revenue on Wednesday, but not without a little kerfuffle.

While the company served up a weak financial forecast, its stock dropped disproportionately — possibly because of a widespread analyst error, which made it look like Box missed on revenue expectations.

Share of Box immediately sank 7% in the moments following its report, but regained some ground and are now down roughly 4% in after hours trading.

Here are the numbers. The analyst estimates are from Bloomberg.

• Revenue (GAAP) — $122.9 million. This is compared to analyst estimates of $121.917 million.
• Earnings per share (adjusted) — Loss of $0.11 per share. This is compared to analyst estimates of a loss of $0.125 per share.
• Q3 projected revenues (GAAP) — range of $128 million to $129 million. This is compared to analyst projections of $129.08 million.
• Q3 projected earnings per share (adjusted) — Loss of $0.14 per share to loss of $0.13 per share. This is compared to the average analyst estimate of loss of $0.125 per share.
• Fiscal 2018 project revenues (GAAP)— $503 million to $506 million.
• Fiscal 2018 project earnings per share (adjusted) — Loss of $0.46 per share to loss of $0.44 per share.

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