Dropbox stock price today per share2/20/2023 ![]() ![]() “Our margin expansion demonstrates the strength of our business model and execution against our long-term targets,” he said. “But Dropbox cannot rest, now it needs to innovate to shape digital work for the pandemic economy, so all eyes are on the its innovation pipeline.”ĭrew Houston (pictured), chief executive at Dropbox, said the company’s results showed that the company’s business was building up strong momentum. “This is something Dropbox has been chasing for quite a while, so congratulations are in order,” Mueller said. told SiliconANGLE that the almost 15% revenue growth, coupled with disciplined cost management, has transformed Dropbox from a company that loses money to one that is now profitable. Now, Dropbox says its total annual recurring revenue comes to $1.981 billion, up 12% from a year ago.ĭropbox also reported having $1.226 billion in cash, cash equivalents and short-term investments on its books.Īnalyst Holger Mueller of Constellation Research Inc. Indeed, the company said its customer count has grown considerably and that its paying user base now totals 15.25 million, up from 14 million in the same period last year.Īverage revenue per paying user has also grown to $128.03, from $123.15 per user one year ago. Nonetheless, despite an initial rise, Dropbox’s stock is down almost 5% after-hours.ĭropbox has seen strong demand for its services, which also help people to collaborate better while working from home, since the COVID-19 pandemic began. Analysts had forecast Dropbox to report earnings of just 18 cents per share on revenue of $483.64 million. That was well ahead of Wall Street’s forecasts. Revenue came to $487.4 million, up 14% from the same quarter one year ago. The company, which sells cloud-based software that’s used by companies to sync and share files over the internet, reported a profit before certain costs such as stock compensation of 26 cents per share. ![]() ![]() Cloud storage company Dropbox Inc. may be wondering what it did wrong after seeing its stock fall today despite beating Wall Street’s targets with its third-quarter financial results. ![]()
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