As of the end of the third quarter, Dropbox had 14 million subscribers, up from 12.3 million in the same period last year, and market analysts expected 13.89 million. Dropbox’s average revenue per user in the third quarter reached $123.15, exceeding market expectations of $122.82.
Editor’s note: This article is from Tencent Technology, compiled Ming Xuan.
According to foreign media reports, cloud storage service provider Dropbox released its third quarter earnings report for 2019 on Thursday. According to the financial report, Dropbox’s total revenue for the third quarter was US$428.2 million, a year-on-year increase of 19%; the net loss was US$17 million, an increase from the net loss of US$5.8 million in the same period last year. Not in accordance with US GAAP, Dropbox’s third-quarter net profit reached $55.9 million, an increase of 24.2% year-on-year.
In the third quarter ended September 30, Dropbox’s total revenue was $428.2 million, a 19% increase from $360.3 million in the same period last year. Dropbox’s third-quarter operating loss was $18.6 million, less than the operating loss of $8.9 million in the same period last year; operating margin was -4.3%, compared to -2.5% in the same period last year. Not in accordance with US GAAP, the operating margin was 13.1%, compared to 12.8% in the same period last year. Dropbox’s third-quarter net loss was $17 million, or a diluted loss per share of $0.04; net loss for the same period last year was $5.8 million, or a diluted loss of $0.01 per share.
Under the US GAAP, Dropbox’s third-quarter net profit reached $55.9 million, a year-on-year increase of 24.2%, and a diluted earnings per share of $0.13. Dropbox’s third-quarter revenue and earnings per share exceeded market expectations. According to a Thomson Reuters survey, market analysts had previously expected that, in accordance with US GAAP, Dropbox’s third-quarter earnings per share were $0.11 and revenue was $423.48 million.
As of the end of the third quarter, Dropbox had 14 million subscribers, up from 12.3 million in the same period last year, and market analysts expected 13.89 million. Dropbox per user in the third quarterThe average revenue reached $123.15, exceeding market expectations of $122.82.
Dropbox’s net cash from operations in the third quarter was $149.7 million, up from $128 million in the same period last year; free cash flow was $102.5 million, less than $120 million in the same period last year. As of the end of the third quarter, Dropbox held cash, cash equivalents and short-term investments totaling $1.031 billion.
Dropbox shares rose $0.40 in regular trading on the Nasdaq Stock Market on Thursday, or 1.95%, to close at $20.96. In subsequent after-hours trading, the company’s share price fell by $0.21, or 1.00%, to close at $20.75. In the past 52 weeks, Dropbox has a minimum stock price of $17.20 and a maximum share price of $27.15. According to Thursday’s closing price, Dropbox has a market capitalization of about $8.7 billion. (Tencent Technology Compilation / Ming Xuan)