Wednesday, March 11, 2015

Biz Break: Box plummets after first post-IPO earnings report shows large loss - San Jose Mercury News

All about expectations...

"Box wrapped up its fiscal year by losing $45.8 million, or $2.64 a share, on sales of $62.6 million; after adjustments, the company reported a loss of $1.65 a share. Analysts expected Box to announce an adjusted loss of $1.17 a share on sales of $58 million, according to Thomson Reuters.

CEO Aaron Levie disputed those numbers on a conference call Wednesday, though, saying that an analysts mistakenly used the wrong share count and skewed the average. The Box co-founder said that FactSet's average prediction -- a loss of $1.99 a share -- used the correct share count, "so we beat by 34 cents.""
Biz Break: Box plummets after first post-IPO earnings report shows large loss - San Jose Mercury News
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