Dropbox profit: DBX stock rises 6% on strong Q4 results

<p>Dropbox (NASDAQ: DBX) earnings for the cloud storage company’s fourth quarter of 2019 have DBX shares higher on Thursday afternoon. This is thanks to the adjusted earnings per share (EPS) of 16 cents on a turnover of 446 million dollars. These two came across Wall Street estimates of 14 cents per share and sales of $ 443.41 million.

Here’s what was worth noting from the latest Dropbox revenue report.

Adjusted earnings per share increased by 60% from 10 cents in the fourth quarter of 2018. Quarterly revenue is 18.65% higher than $ 375.9 million during the same period last year. The operating profit of – 6.6 million dollars is 45% narrower compared to the year before – 12 million dollars. The Dropbox earnings report also included a net loss of $ 6.6 million. This is an improvement of 30.53% compared to the company’s net loss of – $ 9.5 million from the same period last year.

Drew Houston, founder and CEO of Dropbox, said this about DBX stock earnings:

“Our strong Q4 marked the end of an exciting year for Dropbox when we launched our vision for the smart workspace. We ended the year with more than $ 1.6 billion in revenue, over 450,000 Dropbox business teams and millions of people using our new foreground app that keeps Dropbox at the center of our users’ workflows. ”

Dropbox will reveal its prospects for 2020 in its conference call, which takes place at 17:00 Eastern Time. Wall Street is looking for adjusted earnings per share of 59 cents on revenue of $ 1.9 billion during the year.

DBX shares rose 6.22% after Thursday.

At the time of writing, William White had no position in any of the above securities.

Article printed from InvestorPlace Media, https://investorplace.com/2020/02/dropbox-earnings-boost-dbx-stock-up/.

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