Dropbox (DBX) reported first-quarter results late Thursday that beat analyst estimates on the top and bottom lines. Dropbox stock jumped.
XThe company reported adjusted earnings of 35 cents a share on revenue of $511.6 million. Analysts expected Dropbox to report earnings of 31 cents on revenue of $505.2 million. Also, revenue climbed 12% from the year-ago period.
Dropbox Stock Pops
During after-hours trading on the stock market today the San Francisco-based company's stock jumped 3.5%, near 25.35.
Dropbox provides a service that lets users store, share and collaborate on documents, photos and other files online. In addition, it allows users to access their most important files from any device. Founded in 2007, it offers a range of subscription plans.
Paying users climbed 8% to 15.8 million.
"In this new era of distributed work, we have a big opportunity to deliver more value to our customers and shareholders, and I'm excited for what's ahead," said Chief Executive Drew Houston, in written remarks with the Dropbox earnings release.
Please follow Brian Deagon on Twitter at @IBD_BDeagon for more on tech stocks, analysis and financial markets.
YOU MAY ALSO LIKE:
IBD Stock Of The Day: See How To Find, Track And Buy The Best Stocks
IPO Leaders: See Today's Top-Performing IPO Stocks
