Dropbox Earnings: DBX Stock Surges as Q1 Sales Surge 22% Y2Y

Dropbox (NASDAQ:) reported its quarterly earnings results late in the afternoon today, bringing in a profit that was stronger than what analysts called for, while the company’s revenue increased year-over-year, playing a role in lifting DBX stock more than 3% after hours Thursday.

The San Francisco, Calif.-based digital storage business — founded in 2007 — announced that for its first quarter of its fiscal 2019, it brought in a net loss of $7.7 million, or 2 cents per share, which was considerably narrower than the company’s losses from the year-ago quarter, which came in at $465.5 million, or $2.13 per share.

Dropbox added that when adjusted for stock-based compensation and other items, the company brought in earnings of 10 cents per share, which was a beat when taking into account the Wall Street adjusted earnings consensus estimate of 6 cents per share, according to data compiled by FactSet in a survey of analysts.

The company added that it brought in revenue of $385.6 million, which marked a 22% increase from the $316.3 million it brought in during the same period a year ago. The figure was higher than the Wall Street revenue guidance as analysts predicted Dropbox would amass sales of $381.6 million.

For its second quarter of 2019, analysts predict adjusted earnings of 8 cents per share on revenue of $282 million.

DBX stock is surging roughly 3.6% after the bell today following the company’s impressive quarterly earnings showing. Shares had been sliding roughly 1.9% during regular trading hours as Dropbox geared itself up to report its latest quarterly earnings figures.

The post appeared first on InvestorPlace.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story


Latest Markets Videos


InvestorPlace is one of America’s largest, longest-standing independent financial research firms. Started over 40 years ago by a business visionary named Tom Phillips, we publish detailed research and recommendations for self-directed investors, financial advisors and money managers.

Learn More