Dropbox beats Q3 expectations, grows paying customers

The collaboration company's paying customer base continues to grow, as does the average revenue per paying user.


Dropbox on Thursday published its third quarter financial results, beating market expectations.

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Non-GAAP net income for the quarter came to $45 million, or 11 cents per share. Revenue was $360.3 million, up 26 percent year-over-year.

Wall Street was looking for earnings of 6 cents per share on revenue of $352.57 million.

The collaboration company had 12.3 million paying users in Q3, compared 10.4 million for the same period last year. Average revenue per paying user was $118.60, as compared to $112.05 a year prior.

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"We delivered another quarter of strong execution in Q3, driving healthy top line growth and expanding free cash flow margins," CEO Drew Houston said in a statement. "We're shipping product features and updates our users love, based on a deep understanding of our customers and the tools they need to do their best work. Combined with our ecosystem of best-in-class partners, Dropbox is becoming an even more central part of our customers' workflows."


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