=Box (BOX) reported earnings on Mon 3 June 19 (a/h)

Box beats by $0.02, reports revs in-line; guides Q2 EPS in-line, revs below consensus; raises FY20 EPS above consensus, lowers revs below consensus

• Reports Q1 (Apr) loss of $0.03 per share, $0.02 better than the S&P Capital IQ Consensus of ($0.05); revenues rose 16.0% year/year to $163 mln vs the $161.46 mln S&P Capital IQ Consensus.
• Co issues guidance for Q2, sees EPS of ($0.02)-(0.01), excluding non-recurring items, vs. ($0.02) S&P Capital IQ Consensus; sees Q2 revs of $169-170 mln vs. $170.89 mln S&P Capital IQ Consensus.
• Co issues mixed guidance for FY20, raises EPS to $0.00-0.02 from ($0.03)-0.01, excluding non-recurring items, vs. ($0.02) S&P Capital IQ Consensus; raises FY20 revs to $688-692 mln from $700-704 mln vs. $702.06 mln S&P Capital IQ Consensus.
• "In the first quarter, we drove record add-on product attach rates of more than 90% across our six-figure deals. Customers are increasingly adopting Box as a platform for secure content management, workflow, and collaboration," said Aaron Levie, co-founder and CEO of Box. "While we are encouraged by the demand for these larger, more strategic deployments, these deals often have longer sales cycles, which is reflected in our updated guidance. Our go-to-market initiatives, in combination with our expanded product portfolio, will enable us to improve sales productivity and meet the demand for Cloud Content Management."