Box Inc. (NYSE: BOX) is slated to report earnings results for the second quarter of 2020 on Wednesday, August 28, after the market closes. Analysts have forecast a loss of $0.02 per share on revenue of $169.5 million.
Box has been seeing slower billings growth compared to revenue growth for the past two quarters, which is a concern for investors as it indicates fewer customer additions to the sales pipeline. The company has attributed this slowdown to longer sales cycles.
![Box reports Q1 2020 earnings results](https://cdn.news.alphastreet.com/wp-content/uploads/2019/06/Box-Q1-2020-Earnings-Infographic-695x1024.jpg)
However, the SaaS platform has seen strong demand from existing clients and this can be expected to continue in the second quarter, helping drive revenue. The topline numbers are also likely to benefit from the company’s investments in security solutions, which are gaining prominence in the current environment.
In the first quarter of 2020, Box beat expectations with a 16% growth in revenue to $163 million and a narrower-than-expected loss of $0.03 per share. Billings rose 1% to $118.4 million.
For the second quarter of 2020, Box has guided for revenue of $169-170 million and adjusted loss per share of $0.02 to $0.01.
The company lowered its revenue outlook for the full year of 2020 to a range of $688-692 million from the prior range of $700-704 million. Adjusted EPS is projected to be $0.00-0.02.
Box’s shares have dropped 19% year-to-date and 18% in the past one month. The stock has an average 12-month price target of $20.56.
Most Popular
CL Earnings: Key quarterly highlights from Colgate-Palmolive’s Q2 2024 financial results
Colgate-Palmolive Company (NYSE: CL) reported its second quarter 2024 earnings results today. Net sales increased 4.9% year-over-year to $5 billion. Organic sales increased 9%. Net income attributable to Colgate-Palmolive Company was $731
Key takeaways from Visa’s Q3 2024 earnings report
Credit card behemoth Visa, Inc. (NYSE: V) this week reported mixed results for the June quarter, with earnings matching expectations and sales slightly missing the view. Both numbers grew in
Southwest Airlines (LUV): A look at the airline’s performance in Q2 2024
Shares of Southwest Airlines Co. (NYSE: LUV) were up over 6% on Thursday after the company beat earnings estimates for the second quarter of 2024. The stock has gained 4%