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MarketWatch First Take: Box shares sink as forecast indicates slower revenue growth

Box Inc. saw its shares tumble Wednesday as investors got more nervous about its slowing revenue growth.

Earlier, Box reported fiscal first-quarter results, with revenue and a net loss that were within Wall Street’s expectations, but its outlook indicated continued slower revenue growth for the rest of the year. Box’s full-year outlook called for revenue in the range of $603 million to $608 million, or growth of 20% at the high end of that range, up from fiscal 2018 revenue of $506 million.

While 20% growth is nothing to sneeze at for most companies, last year the cloud-storage company had revenue growth of 27%.

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