Dropbox Jumps With Subscription Numbers Blowing Past Forecasts
- Third quarter revenue tops the highest analyst estimate
- The company also trimmed its loses by more than half
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Dropbox surged the most since August after posting strong third quarter results fueled by growth in revenue per user and swelling sales of cloud storage.
Shares of the cloud-data storage company briefly rallied as much as 9.7 percent, the biggest intraday gain since early August, as quarterly revenue topped estimates, and losses narrowed by more than half compared to the same period a year ago.