Dropbox beats first-quarter expectations with a 12% increase in revenue
Cloud file sharing companies increased by 30% in the first quarter using Dropbox Professional.
Net income for the quarter was $141.8 million and 35 cents per share. Product revenue rose 12% year-over-year to $511.6 million.
Analysts had expected the company to earn 30 cents on a revenue of $505.18 million.
“We started the year with strong first-quarter results. including revenue growth and free cash flow,” its CEO Drew Houston said in a statement. “We are excited to welcome DocSend to the team, build on our success with HelloSign, and make significant progress in our core projects in 2021. We look forward to delivering even more value” to our customers. and members with these new service Characteristics.” A time of separation. Business. A lot of time.” And I’m excited about what’s next.
Annual revenue (ARR) was $2.112 billion, an increase of 13% year-on-year.
The number of paying users rose to 15.83 million, compared with 14.59 million in the same period last year. Average paying customers was $132.55, compared to $126.30 in the same period last year.