For the full year, Dropbox’s earnings came to 93 cents per share on total revenue of $1.914 billion, up 15% from the previous year. Dropbox on Thursday reported a $398.2 million one-time charge in the fourth quarter to reflect the company's shift to remote work.. As the coronavirus emerged in … It said it now counts 15.48 million paying users, versus 14.31 million in the same quarter a year ago. Constellation Research Inc. analyst Holger Mueller said Dropbox had done well to grow its revenue while keeping its sales and general and administrative expenses constant over the year and investing more in research and development. Today’s earnings report comes about a month after Houston made what he said was one of the “toughest decisions” he has ever had to make in the job, when he announced the company would lay off 315 employees, which is about 11% of its staff. ET. Unlike many online publications, we don’t have a paywall or run banner advertising, because we want to keep our journalism open, without influence or the need to chase traffic.The journalism, reporting and commentary on SiliconANGLE — along with live, unscripted video from our Silicon Valley studio and globe-trotting video teams at theCUBE — take a lot of hard work, time and money. Houston said at the time the decision was “painful, but necessary” in order to streamline the company’s operations after switching to remote work on a permanent basis. For the three months that January June, the San Francisco-based company is expected to earn 24 cents per share on revenue of $498.64 million. Despite the strong showing, Dropbox actually recorded a net loss in the quarter of $345.8 million because of what it said were “impairment charges” totaling $398.2 million that stem from its permanent switch to remote work. The company reported a profit before certain costs such as stock compensation of 28 cents per share on revenue of $504.1 million, up 14% from a year ago. Dropbox is one place to keep life organized and keep work moving. “Going into 2021, we’re focused on executing against our strategy and building essential products for the new era of distributed work.”. Mueller told SiliconANGLE the layoffs and impairment charges demonstrate that the switch to working at home often comes at a big cost for enterprises. The cloud storage company's revenue also … The journalism, reporting and commentary on. Dropbox (DBX) – Dropbox came in 4 cents a share ahead of estimates, with quarterly earnings of 28 cents per share. For the full year, Dropbox’s earnings came to 93 cents per share on total revenue of $1.914 billion, up 15% from the previous year. SAN FRANCISCO (AP) _ Dropbox Inc. (DBX) on Thursday reported a loss of $345.8 million in its fourth quarter. Average revenue per paying user was also up, from $125 per user last year to $130.17 now. Unlike many online publications, we don’t have a paywall or run banner advertising, because we want to keep our journalism open, without influence or the need to chase traffic. “Dropbox’s results, especially topping $2 billion in annual recurring revenue, offer a snapshot of a company that’s well on its way to delivering sustainably solid enterprise-class performance,” said analyst Charles King of Pund-IT Inc. “The growth in both customer acquisition and revenue per user suggests the company and its executive leadership are on the right path.”. Dropbox’s Write-Downs Understate Earnings. Dropbox (DBX) came out with quarterly earnings of $0.28 per share, beating the Zacks Consensus Estimate of $0.23 per share. Linux Foundation backs 7 new open-source projects to promote racial justice, Pundits weigh in on Facebook’s Australian news outage, California DMV suffers data breach after contractor struck by ransomware attack, Microsoft finds SolarWinds hackers downloaded code but didn't mount attacks, Israeli startup Torii raises $10M to develop out its SaaS automation platform, Arista Networks' stock jumps in after-hours trading on strong financial results, SECURITY - BY DUNCAN RILEY . The Zacks Consensus Estimate for 2020 earnings stands at 88 cents per share, up 14.3% in the past 60 days. Dropbox (DBX) shares have started gaining and might continue moving higher in the near term, as indicated by solid earnings estimate revisions. Other large investors also recently modified their holdings of the […] This compares to earnings of … … We’d also like to tell you about our mission and how you can help us fulfill it. Dropbox’s shares fell about 4.5% in after-hours trading. Support our mission: >>>>>> SUBSCRIBE NOW >>>>>> to our YouTube channel. The company explained that it’s subletting some of its office spaces and needed to settle charges for right-of-use and other lease-related assets. This field is for validation purposes and should be left unchanged. Market Rebellion Co-Founder Jon Najarian likes Dropbox, Inc. (NASDAQ: DBX) and believes the company is going to beat on their upcoming earnings. Show your support for our mission with our one-click subscription to our YouTube channel (below). Thanks! Cloud storage provider Dropbox Inc. topped $2 billion in annual recurring revenue for the first time as it handily beat Wall Street’s expectations with its fourth-quarter financial results today. He pointed out that the COVID-19 pandemic is still taking its toll on economies and markets, and that many commercial organizations are unsure what to expect. Dropbox to Announce Third Quarter 2020 Earnings Results. Wall Street was looking for a 24-cent-per-share profit on revenue of $498 million. “2020 was a transformational year for Dropbox,” said Dropbox Chief Executive Drew Houston (pictured). Dropbox is headquartered in San Francisco, CA, and has 12 offices around the world. If you like the reporting, video interviews and other ad-free content here, please take a moment to check out a sample of the video content supported by our sponsors, tweet your support, and keep coming back to SiliconANGLE. The more subscribers we have, the more YouTube will suggest relevant enterprise and emerging technology content to you. … We’d also like to tell you about our mission and how you can help us fulfill it. With more than 600 million registered users across 180 countries, we’re on a mission to design a more enlightened way of working. Halbert Hargrove Global Advisors LLC acquired a new position in shares of Dropbox, Inc. (NASDAQ:DBX) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. “Now all eyes are on the new financial year to see if Dropbox can maintain its approximate 20% growth rate,” he said. 18 HOURS AGO, [the voice of enterprise and emerging tech]. 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PANW earnings call for the period ending December 31, 2020. The conference call can be accessed by dialing (877) 300-7844 from the United States or (786) 815-8440 internationally with reference to the company name and conference title, and a live webcast and replay of the conference call can be accessed from the Dropbox investor relations website at http://investors.dropbox.com. He … Dropbox didn’t provide any guidance for the next quarter, but Wall Street has modeled a profit of 22 cents per share on revenue of $503.69 million. Thanks to that, Dropbox said, its annual recurring revenue hit $2.022 billion, up 11% from a year ago. Mike Wheatley. Moreover, more enterprises will likely announce similar downsizing decisions in the coming months, according to King. SiliconANGLE Media Inc.’s business model is based on the intrinsic value of the content, not advertising. Keeping the quality high requires the support of sponsors who are aligned with our vision of ad-free journalism content. SAN FRANCISCO--(BUSINESS WIRE)--Dropbox, Inc. (NASDAQ: DBX) announced today that it will report financial results for the third quarter ended September 30, 2020 after market close on Thursday, November 5, 2020. by October 15, 2020 04:05 PM Eastern Daylight Time ... Dropbox is headquartered in San … Dropbox rises amid unconfirmed online speculation that the file-sharing platform is a takeover target. Dropbox, which provides a cloud-based file storage platform that’s popular with enterprises, said it benefited from strong customer growth in the most recent quarter. The San Francisco-based company said it had a loss of 84 cents per share. Since February 19, 2021… SiliconANGLE Media Inc.’s business model is based on the intrinsic value of the content, not advertising. Following the completion of the call, a telephonic replay will be available through 11:59 PM ET on November 12, 2020 at (855) 859-2056 from the United States or (404) 537-3406 internationally with recording access code 5575556. For more information on our mission and products, visit dropbox.com. ... Q2 2021 Earnings Call Feb 22, 2021, 4:30 p.m. The firm acquired 20,039 shares of the company’s stock, valued at approximately $445,000. It’s possible uncertainty over that prospect made investors wary. As a result, he said, “formulating defensive strategies in uncertain times is entirely sensible, though they often take a toll on individual employees and teams.”. The company will also hold a conference call on the same day at 2:00 PM PT / 5:00 PM ET to discuss its financial results with the investment community. Log In Receive full access to our market …
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