=Box (BOX) reported earnings on Wed 28 Feb 2018 (a/h)

Box beats by $0.02, reports revs in-line 

• Reports Q4 (Jan) loss of $0.06 per share, excluding non-recurring items, $0.02 better than the Capital IQ Consensus of ($0.08); revenues rose 24.4% year/year to $136.7 mln vs the $136.61 mln Capital IQ Consensus.
  • Fourth Quarter Billings of $204.6 Million, Up 28 Percent Year-Over-Year
  • Fourth Quarter Cash Flow from Operations of $48.7 million, Up $34.0 Million Year-Over-Year

BOX changed its Accounting to ASC 606 from ASC 605 which impacts guidance.

• Co issuesguidance for Q1, sees EPS of ($0.09)-($0.08), may not be comparable to ($0.08) Capital IQ Consensus Estimate; sees Q1 revs of $139-140 mln, may not be comparable to $144.30 mln Capital IQ Consensus Estimate.
  • Under ASC 605, the prior revenue recognition standard, revenue would be expected to be in the range of $142 million to $143 million.
  • Under ASC 605, GAAP and non-GAAP basic and diluted earnings per share would be expected to be in the range of ($0.28) to ($0.27) and ($0.09) to ($0.08), respectively
• Co issuesguidance for FY19, sees EPS of ($0.20)-($0.16), may not be comparable to ($0.20) Capital IQ Consensus Estimate; sees FY19 revs of $602-608 mln, may not be comparable to $625.67 mln Capital IQ Consensus Estimate.
  • Under ASC 605, the prior revenue recognition standard, revenue would be expected to be in the range of $613 million to $619 million.
  • Under ASC 605, GAAP and non-GAAP basic and diluted earnings per share would be expected to be in the range of ($1.10) to ($1.06) and ($0.28) to ($0.24), respectively.