May 10, 2018 / 8:11 PM / 12 days ago

Dropbox tops paying subscriber estimates in first results since IPO

May 10 (Reuters) - File hosting service provider Dropbox Inc topped analysts’ estimates for paying subscribers in its first financial report as a publicly traded company.

Dropbox said it had 11.5 million subscribers at the end of March, up 23.7 percent from the year-ago quarter. That compared with analysts’ average estimate of 11.3 million, according to Thomson Reuters I/B/E/S.

Dropbox reported average revenue per user of $114.3, beating estimates of $110.

The company’s quarterly loss widened to $465.5 million, largely due to IPO-related expenses.

On an adjusted basis, the company earned 8 cents per share.

Total revenue rose 28 percent to $316.3 million.

Dropbox had a blockbuster market debut on March 23, with shares ending the day up more than 35 percent. (Reporting by Munsif Vengattil in Bengaluru; Editing by Sriraj Kalluvila)

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