REDWOOD CITY, Calif. (AP) — REDWOOD CITY, Calif. (AP) — Box Inc. (BOX) on Tuesday reported fiscal first-quarter earnings of $17.2 million.

On a per-share basis, the Redwood City, California-based company said it had net income of 8 cents. Earnings, adjusted for one-time gains and costs, came to 39 cents per share.

The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 36 cents per share.

The online storage provider posted revenue of $264.7 million in the period, also beating Street forecasts. Six analysts surveyed by Zacks expected $261.7 million.

For the current quarter ending in July, Box expects its per-share earnings to range from 40 cents to 41 cents.

The company said it expects revenue in the range of $268 million to $270 million for the fiscal second quarter.

Box expects full-year earnings in the range of $1.54 to $1.58 per share, with revenue expected to be $1.08 billion.

Box shares have declined 2% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $25.04, a drop of 8% in the last 12 months.

_____

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

For copyright information, check with the distributor of this item, STATS Perform dba Automated Insights. , source Associated Press News