Dropbox Inc. Stock Slips as Company Reports First Earnings Since IPO

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Dropbox Inc. (NASDAQ:DBX) reported its latest quarterly earnings results and its first report since its IPO, with results topping analysts’ expectations on revenue and profit.

Dropbox Inc.The data storage company announced that its first quarter of fiscal 2018 yielded adjusted earnings of 8 cents per share, topping the 5 cents per share that analysts were calling for in their forecast, according to data compiled by Thomson Reuters.

In the revenue front, Dropbox raked in $316.3 million, which was a 28% increase compared to the year-ago quarter. Analysts were calling for revenue of $309.2 million in the Wall Street consensus estimate, according to data compiled by Thomson Reuters.

For its second quarter of fiscal 2018, the company is calling for earnings of 4 cents per share on an adjusted basis, while revenue is slated to be around $324.9 million, per Thomson Reuters. Analysts are also calling for full-year earnings of 22 cents per share and revenue of $1.33 billion, according to Thomson Reuters.

Dropbox announced on Monday that it had 11.5 million paying users in its first quarter, which includes around 500,000 new paying users, which is nearly double the FactSet guidance of 275,600, according to data compiled by StreetAccount.

RBC analysts believed Dropbox would add around 140,000 paying users for the period, a 23% user growth increase, while Rishi Jaluria of D.A. Davidson predicted a user growth of 22%.

DBX stock fell about 1.7% after the bell, following a 1.9% increase in the regular trading session.


Article printed from InvestorPlace Media, https://investorplace.com/2018/05/dropbox-inc-stock-dbx/.

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