Box (NYSE:BOX) shares fell more than 12% on Wednesday subsequent to the release of the company’s Q2 results. The reported earnings per share (EPS) were $0.36, slightly exceeding the Street estimate of $0.35.

Revenue exhibited a year-over-year increase of 6%, amounting to $261.43 million, compared to the Street estimate of $261.32 million. Despite the Q2 results surpassing expectations, the company offered weak guidance.

For the third quarter of the fiscal year 2024, the projected EPS falls within the range of $0.37 to $0.38, while revenue is forecasted to range from $261 million to $263 million.

For the full year, Box envisions an EPS ranging from $1.46 to $1.50, coupled with revenue ranging from $1.040 billion to $1.044 billion.

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