Dropbox (NASDAQ:DBX) earnings for the cloud storage company’s fourth quarter of 2019 have DBX stock heading higher after-hours Thursday. This is thanks to its adjusted earnings per share (EPS) of 16 cents on revenue of $446 million. These both came in above Wall Street’s estimates of 14 cents per share and revenue of $443.41 million.
Here’s what else was worth noting from the most recent Dropbox earnings report.
- Adjusted EPS is up 60% from 10 cents in the fourth quarter of 2018.
- Revenue for the quarter is sitting 18.65% higher than the $375.9 million during the same time last year.
- Operating loss of -$6.6 million is 45% more narrow year-over-year than -$12 million.
- The Dropbox earnings report also included a net loss of -$6.6 million.
- This is a 30.53% improvement over the company’s net loss of -$9.5 million from the same period of the year prior.
Drew Houston, co-founder and CEO of Dropbox, said this about the DBX stock earnings:
“Our strong Q4 marked the end of an exciting year for Dropbox as we launched our vision for the smart workspace. We closed the year with more than $1.6 billion in revenue, over 450,000 Dropbox business teams, and millions of people using our new foreground app that keeps Dropbox at the center of our users’ workflows.”
Dropbox will reveal its outlook for 2020 in its conference call, which takes place at 5:00 p.m. Eastern Time. Wall Street is looking for adjusted per-share earnings of 59 cents on revenue of $1.9 billion during the year.
DBX stock was up 6.22% after-hours Thursday.
As of this writing, William White did not hold a position in any of the aforementioned securities.