Dropbox stock falls after earnings and revenue top expectations

Dropbox stock falls after earnings and revenue top expectations

Dropbox Inc. DBX, reported adjusted earnings and revenue that beat Wall Street expectations late Thursday. 

Dropbox shares fell more than 2% in after-hours trading. The software company reported fourth-quarter net losses of $9.5 million, or 2 cents a share, compared with losses of $37 million, or 19 cents a share, in the year-ago period. Adjusted for stock-based compensation, earnings were 10 cents a share, up from 3 cents a share in the year-ago period. Revenue rose 23% to $375.9 million. Analysts surveyed by FactSet had estimated adjusted earnings of 8 cents a share on sales of $370 million. For the first quarter, analysts model adjusted earnings of 10 cents a share on sales of $378 million. Dropbox will issue guidance on its conference call which begins at 5 p.m. Eastern time. Dropbox stock has fallen 9.8% in the past six months, with the S&P 500 index SPX, -0.35%falling 2.7%.

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