Box tops Q2 revenue goal, posts loss not as bad as expected, outlook strong

Wall Street was bracing for a loss at 29 cents per share with $69.81 million in revenue.

Squeaking out just as the rest of the tech world recovers from Apple's big morning, Box published better-than-expected second quarter financial results after the bell on Wednesday.

The enterprise cloud company posted a net loss of $50.2 million, or 42 cents per share (statement).

On a non-GAAP basis, the loss was 28 cents per share on a revenue of $73.5 million, up 43 percent year-over-year.

Wall Street was bracing for a loss at 29 cents per share with $69.81 million in revenue.

Box's global corporate customer tally surpassed the 50,000-mark worldwide during the quarter, with recent expansions touching the likes of Airbnb, Uber and IBM.

"We continue to invest in our core platform while adding new products like Enterprise Key Management and Governance that augment our ability to capture demand in the broader enterprise content management market," wrote Box CEO and co-founder Aaron Levie, in prepared remarks.

Levie hinted at more product debuts and upgrades during the Silicon Valley company's annual summit, BoxWorks, in San Francisco later this month.

For the current quarter, Wall Street is projecting that loss to steepen to 31 cents a share with $74.32 million in revenue.

Box responded with a Q3 revenue guidance range of $76 million to $77 million.

For the full year, Box is projecting revenue to fall between $295 million to $297 million.


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