Box Inc. (BOX) on Wednesday reported a loss of $42.9 million in its fiscal third quarter.

The Redwood City, California-based company said it had a loss of 32 cents per share. Losses, adjusted for stock option expense and non-recurring costs, came to 13 cents per share.

The results met Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was also for a loss of 13 cents per share.

The online storage provider posted revenue of $129.3 million in the period, which beat Street forecasts. Five analysts surveyed by Zacks expected $128.6 million.

For the current quarter ending in January, Box expects its results to range from a loss of 8 cents per share to a loss of 7 cents per share.

The company said it expects revenue in the range of $136 million to $137 million for the fiscal fourth quarter. Analysts surveyed by Zacks had expected revenue of $73.6 million.

Box expects full-year results to range from a loss of 45 cents per share to a loss of 44 cents per share, with revenue ranging from $505 million to $506 million.

Box shares have climbed 58 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $21.94, an increase of 43 percent in the last 12 months.

--The Associated Press

Published on: Nov 29, 2017