— The online file storage and sharing service company's stock nosedived 12.9% after the company's second quarter results missed on two key metrics, which counteracted strong sales and earnings. The company reported deferred revenue of $517.3 million compared to the FactSet estimate of $527.7 million. Deferred revenue is a key metric for subscription-based services such as Dropbox. The company's billings for the quarter also disappointed investors, coming in at $410.4 million.
1% after the company reported adjusted quarterly earnings of 7 cents a share, beating estimates by 4 cents. The Wall Street Journal publisher's revenue missed forecasts, however, due to lower ad revenue and falling book sales in its publishing unit, as well as other factors. Earnings beat in the quarter due to cost cuts across the company and a higher contribution from News America Marketing than in the previous year.
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