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REDWOOD CITY, Calif. (AP) — REDWOOD CITY, Calif. (AP) — Box Inc. (BOX) on Tuesday reported fiscal third-quarter profit of $12.9 million.
The Redwood City, California-based company said it had net income of 5 cents per share. Earnings, adjusted for stock option expense and non-recurring costs, came to 45 cents per share.
The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 42 cents per share.
The online storage provider posted revenue of $275.9 million in the period, also beating Street forecasts. Four analysts surveyed by Zacks expected $275 million.
For the current quarter ending in January, Box expects its per-share earnings to be 41 cents.
The company said it expects revenue in the range of $279 million for the fiscal fourth quarter.
Box expects full-year earnings to be $1.70 per share, with revenue expected to be $1.09 billion.
Box shares have increased 34% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $34.44, a rise of 30% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BOX at https://www.zacks.com/ap/BOX