Dropbox reported better-than-expected fourth quarter results as the company ended the year with 12.7 million paying customers, up from 11 million a year earlier.
The company reported a fourth quarter net loss of $9.5 million, or 2 cents a share, on revenue of $375.9 million, up 23 percent from a year ago. Non-GAAP earnings for the fourth quarter were 10 cents a share.
Wall Street was expecting Dropbox to report fourth quarter non-GAAP earnings of 8 cents a share on revenue of $370 million.
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Average revenue per paying user was $119.61, up from $113.39 a year ago. Gross margins were 74.9 percent, up from 70 percent a year ago.
For 2018, Dropbox reported a net loss of $484.9 million on revenue of $1.39 billion, up 26 percent from a year ago. Non-GAAP earnings were 41 cents a share.