Box Inc. (NYSE: BOX) saw its shares plummet 7.62% in after-hours trading following the release of its third-quarter fiscal 2026 financial results. The drop came despite the company reporting revenue that slightly exceeded analyst expectations.

The cloud content management firm posted non-GAAP earnings of $0.31 per share, down from $0.45 a year earlier, though matching consensus estimates. Revenue grew 9.1% year-over-year to $301.1 million, beating the $299.1 million forecast. However, investors reacted negatively to the earnings decline and the company's full-year 2026 guidance of $1.28 in adjusted EPS, which fell slightly short of the $1.29 FactSet estimate.

While Box announced a $150 million expansion of its stock repurchase program, the market focused on the mixed earnings picture and cautious outlook, leading to the sharp decline.