Dropbox (DBX) reported fourth-quarter results late Thursday that beat analyst estimates on the top and bottom lines. DBX stock initially jumped, then fell.
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The company reported adjusted earnings of 41 cents a share on revenue of $565.5 million. Analysts expected Dropbox to report earnings of 37 cents on revenue of $558 million, according to FactSet. Revenue climbed 12% from the year-ago period.
DBX stock initially climbed 4%, then fell. It was down 1.4%, near 23.25, during after-hours trading on the stock market today.
Dropbox provides a work collaboration platform. It lets users store, share and collaborate on documents, photos and other files online. In addition, it allows users to access files from any device. Founded in 2007, it offers a range of subscription plans.
The company held its initial public offering in 2018 that priced DBX stock at 21.
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