Cloud service provider Dropbox, Inc. (NASDAQ: DBX) Thursday reported stronger-than-expected earnings and revenues for the first quarter of 2021. The company’s stock gained soon after the announcement.
First-quarter earnings, excluding special items, rose to $0.35 per share from $0.17 per share in the corresponding period of last year. Analysts had predicted a slower growth. On a reported basis, it was a net profit of $47.6 million or $0.12 per share, compared to $39.3 million or $0.09 per share in the first quarter of 2020.
The bottom line benefited from a 12% increase in revenues to $511.6 million, which also exceeded the consensus forecast.
Read management/analysts’ comments on Dropbox’s Q1 results
Shares of Dropbox closed Thursday’s regular trading lower but gained during the extended session after the announcement.
_________________________________________________________________________________________________________________
Stocks you may like:
International Business Machines Corp. (IBM) Stock
_________________________________________________________________________________________________________________
Most Popular
Walgreens Boots Alliance set to report Q2 earnings. Here’s what to expect
Walgreens Boots Alliance, Inc. (NASDAQ: WBA), a market leader in health and wellness services, is preparing to report second-quarter results, with market watchers forecasting a mixed outcome. As part of
Chewy (CHWY) is set for meaningful growth in the coming year, here’s why
Shares of Chewy, Inc. (NYSE: CHWY) stayed red on Thursday. The stock has dropped 2% over the past three months. The pet products company ended fiscal year 2024 on a
GME Earnings: GameStop Q4 2024 profit rises; sales down 28%
Video game company GameStop Corp. (NYSE: GME) has reported an increase in fourth-quarter 2024 earnings, despite a double-digit fall in revenues. Net sales decreased to $1.28 billion in the fourth
