Categories AlphaGraphs, Earnings, Technology
DBX Earnings: Dropbox Q2 2024 profit jumps; revenue up 2%
Dropbox, Inc. (NASDAQ: DBX), a cloud-based document management platform, reported a double-digit increase in adjusted earnings for the second quarter of 2024, aided by a 2% increase in revenues.
Second-quarter earnings, excluding special items, rose to $0.60 per share from $0.51 per share in the corresponding period of last year. On a reported basis, the net profit was $110.5 million or $0.34 per share in Q2, compared to $43.2 million or $0.13 per share in the same period of 2023.
Revenues increased 2% annually to $634.5 million. The top line benefited from an increase in the number of paying users to 18.22 million.
“In Q2, we improved the functionality and experience of our core FSS product and made it easier for our customers to discover, try, and buy everything we have to offer,” said Dropbox’s CEO Drew Houston.
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