Dropbox, Inc. DBX shares are trading higher after the company reported its second-quarter financial results Thursday. Here's a look at the key figures from the quarter.
The Details: Dropbox beat analyst expectations on the top and bottom lines with earnings of 60 cents per share on revenue of $634.5 million for the second quarter.
Total ARR was $2.573 billion, an increase of 2.9% from the same period last year and a $17.3 million increase quarter-over-quarter.
Paying users was 18.22 million, as compared to 18.04 million for the same period last year. Average revenue per paying user was $139.93, as compared to $138.94 for the same period last year, and paying users increased by 63,000 quarter-over-quarter.
Read Also: Toast Shares Get Burned After Q2 Results
“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 CEO Drew Houston.
“As we navigate the natural pressures of a maturing FSS business, we’re focused on solving our customers’ biggest new pain points in securing, organizing and sharing their content, and are investing in our future bets for AI-powered universal search with Dropbox Dash. As this work continues, we remain committed to operating efficiently and driving improved shareholder returns.”
DBX Price Action: According to Benzinga Pro, Dropbox shares are up 4.46% after-hours at $22.70 at the time of publication Thursday.
Read Next:
Image: Shutterstock
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
