Dropbox (NASDAQ:DBX) reported its latest quarterly earnings results late in the day Thursday, which topped analysts’ expectations but shares were sinking after the bell.
For its second quarter of fiscal 2018, the file-sharing giant said that its losses came in at $4.1 million, or a penny per share. The figure was a fraction of what it was in the year-ago period, when it lost $26.8 million, or 14 cents per share.
On an adjusted basis, Dropbox said its profit reached $48 million, or 11 cents per share. The figure was stronger than its year-ago adjusted net income of $20 million, or 6 cents per share.
The company’s adjusted earnings were also ahead of what Wall Street was calling for at 6 cents per share, according to data compiled by FactSet. Dropbox also impressed on the revenue front, amassing $339.2 million in sales, a 27% increase.
Wall Street said in its consensus estimate that it was seeking revenue of $331 million, according to data compiled by FactSet. The company’s free cash flow was $102.2 million, ahead of the Wall Street forecast of $96 million.
Dropbox’s user growth was stronger as well, increasing from 9.9 million in the year-ago period to 11.9 million paying users by the end of the quarter. Its average revenue per user was also higher at $116.66 million from $111.19 million a year ago.
DBX stock was soaring about 9.1% during regular trading hours on Thursday in anticipation of the company’s quarterly earnings results, which topped expectations. However, shares were sinking about 8.9% after the bell.