Earnings Results: Dropbox shares inch lower despite sales, earnings beats
Shares of Dropbox Inc. retreated 0.4% in extended trading Thursday after the software company reported fiscal third-quarter sales that eclipsed Wall Street projections.
reported net income of $75.6 million, or 19 cents a share, compared with net income of $32.7 million, or 8 cents a share, in the year-ago quarter. Revenue rose 13% to $550.2 million from $487.4 million a year ago. Adjusted earnings were $147.1 million, or 37 cents a share.
Analysts surveyed by FactSet had expected net income of 35 cents a share on revenue of $544 million.
Dropbox’s stock has surged 40% in 2021, while the broader S&P 500 index
has gained 24% this year.