Dropbox Inc $ 19.11 0.66 (3.58%)
DBX News and Headlines - Dropbox Inc
Enterprise software is one of the least-affected sectors by the pandemic, and the companies within this space have managed to reported strong results in what can be termed as one of the worst quarters in recent history for the global economy.
An increasing number of businesses are turning towards digital applications that can increase work efficiency while promoting a work-from-home environment. DocuSign Inc (DOCU) is one such player within the e-signature and cloud-based solutions space that has managed to deliver a string of solid results. The company has made some pertinent acquisitions and is well on track for a strong
Shares of Dropbox Inc. (DBX) fell more than 8% on Thursday after the company posted fourth-quarter earnings of 10 cents per share on revenue of $375.9 million, reflecting 23% year-over-year growth. The company beat earnings estimates by 2 cents and revenue expectations by $5.93 million.
The number of paying users reached 12.7 million, up from 11 million in the year-ago quarter. Average revenue per paying user was $119.61, up fromÂ $113.39.
The GAAP gross margin was 74.9%, an increase of 490 basis points from the prior-year quarter.
In light of Wednesday’s market selloff, Tiger Global Management’s portfolio contains four tech stocks near 52-week lows: Facebook Inc. (FB), Dropbox Inc. (DBX), Fitbit Inc. (FIT) and Switch Inc. (SWCH).
Tiger Global Management, led by Chase Coleman (Trades, Portfolio), primarily invests in technology companies. The portfolio has 35.88% weight in technology, the firm’s second-largest sector in terms of market weight.
Dow continues losses from Wednesday
The Dow Jones industrial average traded approximately 300 points lower in intraday trading Thursday, following Wednesday’s 800-point nosedive sparked by higher Treasury yields and a selloff in technology shares.
Dropbox (DBX), the provider of cloud storage for consumers and corporations, reported stellar second quarter results Thursday, beating both the top line and bottom line consensus of the Street.
The cloud storage company reported revenue of $339.2 million, up 27.2% year-over-year while beating the analyst consensus by $8.3 million. Non-GAAP net income more than doubled during the quarter to reach 11 cents a share; the Street was modeling for earnings per share of 7 cents.
Paying users – the key operating metric of Dropbox – increased 20% to reach 11.9 million. Paying users stood at 9.9 million during the same
Shares of Redfin Corp. (RDFN) fell after the company reported second quarter earnings per share of 4 cents on revenue of $142.6 million, reflecting 35.9% year-over-year growth. The company beat earnings estimates by 2 cents and revenue estimates by $3.77 million.
Gross profit was $45.2 million, an increase of 22% from the second quarter of 2017. Gross margin was 32%, compared to 35%. Real estate servicesÂ gross profit was $45.5 million, an increase of 22% and real estate services gross margin was 35%, compared to 37%.
Looking ahead, for the
The Dow Jones Industrial Average closed at 25175.31 on Thursday with a loss of -25.89 points or -0.10%. The S&P 500 closed at 2782.49 for a gain of 6.86 points or 0.25%. The Nasdaq Composite closed at 7761.04 for a gain of 65.34 points or 0.85%. The VIX Volatility Index was lower at 12.12 for a loss of -0.82 points or -6.34%.
Thursday’s market movers
U.S. market indexes were mostly higher on Thursday after reporting losses Wednesday following the Fed’s announcement of a new federal funds rate increase. The European Central Bank completed its policy meeting with an announcement of
On Monday, Alphabet Inc.'s Google (GOOG) unveiled its plans to launch a new cloud storage product, Google One. In effect, it’s a rebranding of Google’s existing cloud storage business with cheaper pricing options.
The company is offering expanded storage plan options ranging from 100 gigabytes up to 30 terabytes per month. As a part of the revamp, the company has slashed prices in half for some of the plans. For instance, the two-terabyte plan now costs $9.99 per month, down from its previous price of $19.99. Google One subscriptions can be shared by up to five family members. Although Google
Dropbox (DBX) reported its first post-IPO earnings yesterday, beating the top line and bottom line consensus. Revenue came in at $316.3 million, up 27.6% year-over-year, beating the analyst consensus by $7.6 million. Earnings for the quarter were 8 cents a share; analysts were looking for earnings per share of 6 cents.
For the second quarter, Dropbox is guiding for mid-point revenue of $329.5 million, translating into 4% sequential growth. Wall Street is modeling for revenue of $324.9 million. For the full year 2018, Dropbox is guiding for revenue in the range of $1.34 billion and $1.36 billion, which is above
Spotify Technology SA (SPOT)Â is an interesting stock. Compared to other major tech companies, like First Data (FDC), Dropbox (DBX), Snap (SNAP), Twitter (TWTR) and Altice USA (ATUS), this company’s trading volume was particularly light in the first couple days following its listing.
An interesting phenomenon took place with Spotify: there were not enough shares provided on April 3, which caused the share price to unnaturally rise to meet the existing market demand. When the stock debuted on the New York Stock Exchange, it was priced at $165.90. Within minutes,
Dropbox Inc. (DBX) is finally a public company following its initial public offering last week.
The San Francisco-based company, which was established in 2007, operates a file-sharing platform. It has been one of the most disruptive platforms in its market over the last decade and continues to show promise despite an emerging school of critics that suggest blockchain technology could lead to its demise.
Others have dismissed such suggestions, arguing that what blockchain technology brings to the market is slightly different to what Dropbox offers and, thus, the file-sharing portal could yet survive the storm. According to aÂ
Dropbox Inc.Â (DBX) had a sizzling initial public offering last Friday, with the stock up 35% in its first day of trading. At market close, the market cap was around $12.54 billion with shares trading at nine times forward sales.
The IPO was priced at $21 per share. The company sold 36 million shares, including 9.2 million from existing private shareholders. The company raised around $641 million from the IPO after accounting for expenses. Salesforce (CRM) gained approximately 4.76 million shares of Dropbox through a private placement. The company now has around 440.3 million fully diluted outstanding shares.
The initial public offering of Dropbox (DBX) was quite successful. Last Friday, its share price jumped by 35.6% to $28.48 in a single trading day. At this price, Dropbox is valued at $20.8 billion, and the offering was oversubscribed. At the same time, the overall U.S. stock market was in the red. This signals bullish momentum for the big technology company.
Dropbox started as an online storage business. It has more than 500 million registered users in 180 countries. Out of those 500 million users, 11 million are paying Dropbox to use its service. In 2017, Dropbox reported $1.1 billion
Drew Houston, co-founder and CEO of Dropbox Inc. (DBX), left the celebration of his company's initial public offering to talk with CNBC. In addition to the company's debut on the Nasdaq, which came after a horrible week for tech stocks, he discussed its future plans.Â
Priced at $21 a share, Dropbox's opening trade was $29 Friday morning.Â
He also chatted with Bloomberg:Â