Dropbox Q2 Performance: Stock Rises Top and Bottomline Beat, Growing Subscribers and More

Dropbox, Inc. DBX shares are trading higher in Thursday’s after-hours session after the company’s second-quarter report.

What Happened: Dropbox reported quarterly earnings of 51 cents per share which beat the analyst consensus estimate of 45 cents, a 34.21% increase over earnings of $0.38 per share from last year. The company reported quarterly sales of $622.50 million, which beat the analyst consensus estimate of $613.64 million, an 8.70% increase over sales of $572.70 million in the same period last year. 

Total ARR ended at $2.500 billion, an increase of 7.2% from the same period last year.

Paying users ended at 18.04 million, as compared to 17.37 million for the same period last year. The average revenue per paying user was $138.94, as compared to $133.34 for the same period last year.

Dropbox generated a free cash flow of $184.6 million.

“In Q2, we delivered a solid quarter beating our guidance across all metrics, and introduced exciting AI-powered product experiences to our customers, including Dropbox Dash and Dropbox AI,” said Co-Founder and CEO Drew Houston.

“As we navigate this period of economic uncertainty, we remain focused on improving the product experience within core Dropbox and creating more value across workflows and AI driven capabilities.”

Related Link: Amazon Delivers Q2 Earnings Gains To Investors: Revenue Climbs 11%, AI In The Spotlight and More

DBX Price Action: DBX shares were up 3.31% after hours at $26.81 at the time of publication, according to Benzinga Pro.

Image by Gino Crescoli from Pixabay