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
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