FILE PHOTO: The Dropbox app logo seen on a mobile phone in this illustration photo October 16, 2017. REUTERS/Thomas White/Illustration/File Photo
May 10, 2018
(Reuters) – File hosting service provider Dropbox Inc <DBX.O> topped analysts’ estimates for paying subscribers in its first financial report as a publicly traded company.
Dropbox said it had 11.5 million subscribers at the end of March, up 23.7 percent from the year-ago quarter. That compared with analysts’ average estimate of 11.3 million, according to Thomson Reuters I/B/E/S.
Dropbox reported average revenue per user of $114.3, beating estimates of $110.
The company’s quarterly loss widened to $465.5 million, largely due to IPO-related expenses.
On an adjusted basis, the company earned 8 cents per share.
Total revenue rose 28 percent to $316.3 million.
Dropbox had a blockbuster market debut on March 23, with shares ending the day up more than 35 percent.
(Reporting by Munsif Vengattil in Bengaluru; Editing by Sriraj Kalluvila)
