Dropbox Sneaks By in Q3

November 9, 2018 by Chris Lange

Dropbox Inc. (NASDAQ: DBX) reported its most recent quarterly results after the markets closed on Thursday. The company said that it had $0.11 in earnings per share (EPS) and $360.3 million in revenue, which compares with consensus estimates that called for $0.06 in EPS and $352.57 million in revenue.

During the quarter, paying users totaled 12.3 million, up from 10.4 million for the same period last year. Average revenue per paying user was $118.60, as compared to $112.05 for the year-ago period.

On the books, Dropbox cash, cash equivalents and short-term investments totaled $1.04 billion at the end of the quarter, up from $430.0 million at the end of the previous fiscal year,

Although the company did not supply guidance in the report, consensus estimates are calling for $0.06 in EPS and $363.7 million in revenue for its fourth quarter.

Drew Houston, Dropbox co-founder and CEO, commented:

We delivered another quarter of strong execution in Q3, driving healthy top line growth and expanding free cash flow margins. … We’re shipping product features and updates our users love, based on a deep understanding of our customers and the tools they need to do their best work. Combined with our ecosystem of best-in-class partners, Dropbox is becoming an even more central part of our customers’ workflows.

Shares of Dropbox last closed at $24.74, with a post-IPO range of $21.36 to $43.50. The stock has a consensus analyst price target of $35.42. Following the announcement, the stock was up over 8% at $26.86 in early trading indications Friday.

ALSO READ: 5 Merrill Lynch US 1 Health Care Stocks Could Be Big 2019 Winners

Smart Investors Are Quietly Loading Up on These “Dividend Legends” (Sponsored)

If you want your portfolio to pay you cash like clockwork, it’s time to stop blindly following conventional wisdom like relying on Dividend Aristocrats. There’s a better option, and we want to show you. We’re offering a brand-new report on 2 stocks we believe offer the rare combination of a high dividend yield and significant stock appreciation upside. If you’re tired of feeling one step behind in this market, this free report is a must-read for you.

Click here to download your FREE copy of “2 Dividend Legends to Hold Forever” and start improving your portfolio today.

Posted in Technology | Comments Off on Dropbox Sneaks By in Q3