Dropbox Rises as More Paying Users Power Profit and Sales Growth

Drew Houston, chief executive officer and co-founder of Dropbox Inc., speaks during the TechCrunch Disrupt 2018 summit in San Francisco, California, U.S., on Wednesday, Sept. 5, 2018. TechCrunch Disrupt, the world's leading authority in debuting revolutionary startups, gathers the brightest entrepreneurs, investors, hackers, and tech fans for on-stage interviews.Photographer: David Paul Morris/Bloomberg

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By Dina Bass

May 9, 2019 at 8:38 PM UTC

This article is for subscribers only.

Dropbox Inc. said sales and profit beat analyst estimates as the company gained paying users, sending shares up about 3 percent in extended trading Thursday.

The maker of cloud-based file-sharing software reported profit, excluding some costs, of 10 cents a share, above the 6 cent average estimate of analysts polled by Bloomberg. Sales were $385.6 million, above the $381.6 million average analyst estimate. The company also posted a narrower net loss of $7.7 million, compared with $465.5 million a year ago.