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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Dropbox, Inc.    DBX

DROPBOX, INC.

(DBX)
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Dropbox tops revenue, profit estimates on higher subscriber additions

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11/07/2019 | 04:27pm EST
Illustration photo of the Dropbox app

Dropbox Inc beat analysts' estimates for third-quarter revenue and profit on Thursday, as the online file hosting company signed up more individual and business customers to its platform.

Dropbox, which competes with Alphabet Inc Google, Microsoft Corp as well as Box Inc, has relied on its "freemium" model to attract more customers. The model allows customers to use the platform's basic features for free, but charges for additional services.

It acquired e-signature company HelloSign earlier this year and has partnered with rivals Microsoft and Google's file storage platforms, aiming to expand its reach and convert free users to paid customers.

Dropbox had 14 million subscribers at the end of the quarter, up from 12.3 million a year earlier and ahead of estimates of 13.89 million, according to FactSet.

Average revenue per user rose to $123.15, beating Refinitiv estimates of $122.82.

The company's deferred revenue, which measures future business for subscription-based software vendors, was $541.1 million, above estimates of $534 million, according to IBES data from Refinitiv.

Revenue rose 19% to $428.20 million (£334.09 million) in the third quarter, beating analysts' estimates of $423.48 million, according to IBES data from Refinitiv.

However, net loss widened to $17 million, or 4 cents per share, in the three months ended Sept. 30, from $5.8 million, or 1 cent per share, a year earlier.

On an adjusted basis, Dropbox earned 13 cents per share, beating analysts' estimates of 11 cents per share.

Shares of the company, which initially went up 5% in extended trading, were last down 3%.

(Reporting by Munsif Vengattil in Bengaluru; Editing by Shounak Dasgupta and Sriraj Kalluvila)

Stocks mentioned in the article
ChangeLast1st jan.
ALPHABET -0.54% 1293.335 Delayed Quote.24.42%
DROPBOX, INC. 2.51% 18.985 Delayed Quote.-9.35%
MICROSOFT CORPORATION 0.03% 149.5125 Delayed Quote.47.17%
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Financials (USD)
Sales 2019 1 658 M
EBIT 2019 200 M
Net income 2019 -58,7 M
Finance 2019 993 M
Yield 2019 -
P/E ratio 2019 -130x
P/E ratio 2020 -211x
EV / Sales2019 4,04x
EV / Sales2020 3,45x
Capitalization 7 692 M
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Technical analysis trends DROPBOX, INC.
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 15
Average target price 28,15  $
Last Close Price 18,52  $
Spread / Highest target 99,8%
Spread / Average Target 52,0%
Spread / Lowest Target -29,8%
EPS Revisions
Managers
NameTitle
Andrew W. Houston Chairman, President & Chief Executive Officer
Ajay V. Vashee Chief Financial Officer
Bharat Mediratta Chief Technology Officer & Senior VP-Platform
Arash Ferdowsi Director
Condoleezza Rice Independent Non-Executive Director
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