Dropbox Inc. (NASDAQ: DBX) today announced its first quarter financial results for the period ended March 31, 2020.
Net income for the first quarter was $39.3 million, or $0.09 per share, compared with net loss of $7.7 million, or $0.02 per share in the first quarter of 2019.
Revenues increased 18% to $455 million.
DBX shares inched up 1% during the after hours following the earnings announcement.
We had a strong first quarter as we rallied together to support our customers and our community during this unprecedented public health crisis. We delivered healthy growth, record operating margins, and our first quarter of GAAP profitability. I’m incredibly proud of our team as we continue to build products that help facilitate distributed work at scale. We’ve built an enduring business and I remain confident in our future.
Drew Houston, CEO
You may also like:
Most Popular
United Parcel Service (UPS) seems on track to regain lost strength
Cargo giant United Parcel Service, Inc. (NYSE: UPS) ended fiscal 2023 on a weak note, reporting lower revenues and profit for the fourth quarter. The company experienced a slowdown post-pandemic
IPO Alert: What to look for when Boundless Bio goes public
Boundless Bio is preparing to debut on the Nasdaq stock market this week, and become the latest addition to the list of biotech firms that have launched IPOs this year.
Nike (NKE) bets on innovation and partnerships to return to high growth
Sneaker giant Nike, Inc. (NYSE: NKE) has been going through a rough patch for some time, with sales coming under pressure from weak demand and rising competition. Post-pandemic, the company