InvestorPlace - Stock Market News, Stock Advice & Trading Tips
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.
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.
More From InvestorPlace
- 20 Russian Stocks to Watch After Trump's Helsinki Gaffe
- 10 Cheap Consumer Stocks for an Uncertain Market
- 7 Top S&P 500 Stocks to Consider for Long-Term Gains
The post Dropbox Stock Sinks After Topping Q2 Earnings Easily 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.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
