August 8, 2019 / 8:03 PM / a month ago

Dropbox quarterly revenue beats estimates

Aug 8 (Reuters) - Dropbox Inc on Thursday topped Wall Street estimates for revenue for a sixth straight quarter since going public as it added more individual and business customers, while earning more from them.

The company said it had 13.6 million subscribers at the end of three months on June 30, beating analysts’ expectation of 13.4 million, according to FactSet.

Average revenue per user rose to $120.48 from $116.66 a year earlier.

Net loss widened to $ 21.4 million, or 5 cents per share, for the second quarter, from $4.1 million, or 1 cent per share, a year earlier.

The file hosting company’s revenue rose 18% to $ 401.5 million, beating the average analyst estimate of $400.9 million, according to IBES data from Refinitiv.

Reporting by Neha Malara in Bengaluru; Editing by Arun Koyyur

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