Box’s stock is sinking after it served up a weak revenue forecast and missed Q2 targets

Box, the file sharing and storage company, missed Wall Street targets for Q2 revenue and served up a weak financial forecast on Wednesday.

Share of Box immediately sank 7% in the moments following its report, but regained some ground and are now down roughly 3% in after hours trading.

Here are the numbers:

Revenue (GAAP) – $122.9 million. This is compared to analyst estimates of $124.34 million. Earnings per share (adjusted) – Loss of $0.11 per share. This is compared to analyst estimates of a loss of $0.13 per share. Q3 projected revenues (GAAP) – range of $128 million to $129 million. This is compared to analyst projections of $131.6 million. Q3 projected earnings per share (adjusted) – Loss of $0.14 per share to loss of $0.13 per share. This is compared to the average analyst estimate of loss of $0.13 per share. Fiscal 2018 project revenues (GAAP)- $503 million to $506 million. This is compared to analyst projections of $505.65 million. Fiscal 2018 project earnings per share (adjusted) – Loss of $0.46 per share to loss of $0.44 per share. This is compared to analyst estimates of a loss of $0.46 per share.