to add analytics tools to its platform that can be used to track how files shared across an organization are being used by different people. The COVID-19 pandemic was a natural boon for Dropbox and the company has responded by building out its toolkit. Companies can use Dropbox to organize large numbers of files and documents. There’s hardly an enterprise worker who doesn’t know how to use Dropbox to save files online and sync them with another device or share with another user.
“I’m confident in our future as we work toward our vision of building one organized place for content and all the workflows around it.”ĭropbox is in a position to facilitate distributed work because it’s one of the best-known cloud storage service providers in the enterprise with a fairly iconic name. “We shipped several new product experiences and help our customers with today’s challenges of distributed and remote work,” he said. Indeed, Dropbox co-founder and Chief Executive Drew Houston (pictured) used the same word, “solid,” to describe the company’s performance, with strong revenue growth, record free cash flow and “great progress” being made against its strategic objectives. The company’s stock fell a small fraction of a point in after-hours trading after rising a little under 1% in regular trading. The company reported a profit before certain costs such as stock compensation of 37 cents per share on revenue of $550.2 million, which was up 13% from the same quarter a year ago.Īnalysts had been modeling earnings of just 35 cents per share on sales of $543 million, so it was a solid if not spectacular earnings beat for the company. File-sharing specialist Dropbox Inc. beat Wall Street’s forecast for its third-quarter financial results today.
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