Dropbox shares jump on earnings beat

Dropbox reported 14.3 million paying users in the fourth quarter, up from 14 million users in the previous quarter and above the 14.2 million expected among analysts surveyed by FactSet. Average revenue per paying user totaled $125, up from $123.15 one quarter earlier and more than the FactSet consensus estimate of $123.81.

In the fourth quarter Dropbox announced the departure of its chief customer officer, Yamini Rangan, who has since joined"App usage trends have worsened since our August initiation, with downloads declining ~20% in Q4 and in-app purchase rev. decelerating significantly," Bernstein analysts Zane Chrane and Michelle Isaacs, who have the equivalent of a sell rating on Dropbox stock, wrote in a note distributed to clients on Wednesday.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Shares of Groupon fall over 20% after fourth-quarter earnings and revenue miss estimatesGroupon CEO Rich Williams said the company's plan to ditch goods to focus on experiences will allow 'a stronger Groupon emerge' in 2020. Damn good thing i used a groupon for my position
Source: CNBC - 🏆 12. / 72 Read more »

Groupon and Blue Apron’s real problem: Neither business model works, experts sayGroupon Inc. shares slid 43% Wednesday and Blue Apron Inc. was down 22%, after far weaker-than-expected earnings from both companies revived concerns about...
Source: MarketWatch - 🏆 3. / 97 Read more »