Dropbox Inc reports results for the quarter ended June 30 - Earnings Summary

• Dropbox Inc DBX reported quarterly adjusted earnings of 71 cents​​ per share for the quarter ended June 30, higher than the same quarter last year, when the company reported EPS of 60 cents. The mean expectation of ten analysts for the quarter was for earnings of 63 cents per share. Wall Street expected results to range from 60 cents to 65 cents per share.

• Revenue fell 1.4% to $625.70 million from a year ago; analysts expected $618.55 million.

• Dropbox Inc's reported EPS for the quarter was 45 cents​.

• The company reported quarterly net income of $125.6 million.

• Dropbox Inc shares had fallen by 7.3% this quarter and lost 11.8% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had risen by about 0.5% 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 "buy."

• Wall Street's median 12-month price target for Dropbox Inc is $29.00, about 9.7% above its last closing price of $26.20

This summary was machine generated from LSEG data August 8 at 03:41 a.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)