Dropbox Inc reports results for the quarter ended March 31 - Earnings Summary

• Dropbox Inc DBX.OQ reported quarterly adjusted earnings of 70 cents​​ per share for the quarter ended March 31, higher than the same quarter last year, when the company reported EPS of 58 cents. The mean expectation of eleven analysts for the quarter was for earnings of 62 cents per share. Wall Street expected results to range from 54 cents to 65 cents per share.

• Revenue fell 1% to $624.70 million from a year ago; analysts expected $620.06 million.

• Dropbox Inc's reported EPS for the quarter was 51 cents​.

• The company reported quarterly net income of $150.3 million.

• Dropbox Inc shares had risen by 10.1% this quarter and lost 2.1% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 1% in the last three months.​

• In the last 30 days, there have been no earnings estimate revisions by analysts covering the company.

RECOMMENDATIONS

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy," 8 "hold" and 3 "sell" or "strong sell." The average consensus recommendation for the software peer group is also "hold"

• Wall Street's median 12-month price target for Dropbox Inc is $28.00

This summary was machine generated from LSEG data May 8 at 09:01 p.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)