Box Stock Tumbles On Q2 Earnings: What's Driving The Action After Hours?
Portfolio Pulse from Adam Eckert
Box Inc's shares fell in after-hours trading following the release of its Q2 results. Despite beating estimates for revenue and earnings per share, the company issued soft guidance for Q3 and full-year revenue and earnings, which appears to be driving the stock price down. Box also announced a $100 million expansion of its stock repurchase program.
August 29, 2023 | 8:21 pm
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Box Inc's Q2 results beat estimates but the company's soft guidance for Q3 and full-year revenue and earnings is driving the stock price down. The company also announced a $100 million expansion of its stock repurchase program.
Box Inc's Q2 results beat estimates, which would typically drive the stock price up. However, the company's soft guidance for Q3 and full-year revenue and earnings, which are lower than estimates, is likely causing investor concern and driving the stock price down. The announcement of a $100 million expansion of its stock repurchase program could potentially offset some of the negative impact.
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