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Box Q2 Results Top Estimates, but Strong Dollar Weighs

By Yasin Ebrahim

Investing.com - Box reported second-quarter results topped Wall Street estimates, driven by increased enterprise spending, though a stronger dollar weighed on the results.  

Box Inc (NYSE:BOX) was flat in aftermarket hours.

Box reported adjusted EPS of 28 cents on revenue of $246 million, up from 21 cents a share and $214.5 million a year earlier, respectively. That was ahead of estimates for EPS of 28 cents on revenue of $245.8 million. 

Billings for Q2 rose 10% to $235.0 million from $213.1 million a year earlier. 

Looking ahead, the company forecasts third quarter revenue of $250 million to $252 million and adjusted EPS between 29 cents and 30 cents, in-line with Wall Street estimates for $251 million and 24 cents.

For fiscal 2023, the company guided EPS in a range of $1.13 to $1.16, compared with $1.11 to $1.15 a share previously. Revenue was maintained in a range of $992 million to $996 million. 

"Since our previous earnings call on May 25, 2022, the U.S. dollar has strengthened resulting in a larger FX headwind in both Q3 FY23 and full year FY23," the company said.

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