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11/9, 2:04 PM (Source: TeleTrader.com)
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Dropbox-4.85%

24.33
Chart for: Dropbox, Inc.

Dropbox soars 9% in pre-market after earnings beat

Shares of Dropbox, Inc. soared over 9% in pre-market trading after the company's third-quarter results topped market estimates.

On Thursday, the file hosting platform said its revenue in the three months to September surged 26% year-on-year to $360.3 million, while GAAP net loss declined from $14.1 million in the third quarter of 2017 to $5.8 million. GAAP net loss per share in the third quarter of 2018 stood at $0.01, compared to the loss of $0.07 per share recorded in the same period a year earlier.

The number of paying users rose from 10.4 million in the third quarter of 2017 to 12.3 million this year.

Breaking the News / NP