Three months ago, I wrote about Box’s fourth quarter earnings.
Box Got Crushed
One of the highlights of the earnings announcement was the dismal outlook Box reported. One of their biggest competitors is Microsoft Corp’s OneDrive and SharePoint. Thus, it will be difficult for Box to steal away SharePoint customers. In addition, Microsoft is able to provide OneDrive and SharePoint to customers at a cheaper rate than Box. Personally, I wasn’t surprised by the forecast and the chart suggested price would fall to monthly demand at $14.
Yesterday, Box reported their first quarter earnings. Box beat on earnings and revenue estimates, but reported