Dropbox Q1 tops expectations as company hits 13.2 million paying users

Dropbox reported better-than-expected first quarter financial results on Thursday. The cloud-based file sharing company delivered a net loss of $7.7 million, or 2 cents a share, on revenue of $385.6 million, up 22%. Non-GAAP earnings were 10 cents per share.

Wall Street was expecting earnings of 7 cents a share with revenue of $381.6 million. Shares of Dropbox were up nearly 5% in after hours trading. 

The company said paying users now sit at 13.2 million, as compared to 11.5 million for the same period last year. Average revenue per paying user was $121.04, up from $110.79 per user for the same period last year.

Dropbox chief executive Drew Houston said the quarter’s results were driven by “continued paying user growth and ARPU expansion.”

“Our 22% top line growth and robust operating margins reflect our efficient go-to-market strategy and operational discipline,” Houston said. “We also closed our first acquisition as a public company with HelloSign, and I’m excited about our future together.”

Looking ahead, analysts expect Dropbox to report second quarter earnings of 8 cents per share on revenue of $400.22 million. Dropbox is holding its outlook until its conference call this afternoon. 

Source Article from https://www.zdnet.com/article/dropbox-q1-tops-expectations-as-company-hits-13-2-million-paying-users/#ftag=RSSbaffb68
Dropbox Q1 tops expectations as company hits 13.2 million paying users
Latest blogs for ZDNet
Latest blogs for ZDNet

Article written by

great guy, love the news

Please comment with your real name using good manners.

Leave a Reply

You must be logged in to post a comment.