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
TSN Earnings: All you need to know about Tyson Foods’ Q3 2022 earnings results
Tyson Foods, Inc. (NYSE: TSN) reported third quarter 2022 earnings results today. Sales rose to $13.5 billion from $12.5 billion in the same period a year ago. Net income attributable to
Yum! Brands (YUM) has what it takes to satisfy investor appetite
Yum! Brands, Inc. (NYSE: YUM) owns some of the most popular food brands and serves customers in almost every part of the world. Over the years, the company's leading segments
Starbucks (SBUX): Here are a few points to keep in mind if you have an eye on this coffee giant
Shares of Starbucks Corporation (NASDAQ: SBUX) were down over 1% on Friday. The stock has dropped 27% year-to-date but has gained 11% over the past three months. Earlier this week