May 9, 2019 / 8:10 PM / 14 days ago

Dropbox tops revenue estimates on higher paying subscribers

May 9 (Reuters) - File sharing and storage company Dropbox Inc topped Wall Street expectations for quarterly revenue on Thursday, as it signed up more paying subscribers and earned more revenue per user.

The company said it had 13.2 million subscribers at the end of the three months on March 31, beating the average analyst estimate of 13 million, according to FactSet.

Average revenue per user of $121.04 came ahead of estimates of $120.78, according to IBES data from Refinitiv.

Quarterly loss narrowed to $7.7 million or 2 cents per share in Dropbox’s fifth financial report as a publicly traded company from $465.5 million or $2.13 per share, a year earlier.

Total revenue rose 22 percent to $385.6 million, above estimates of $381.6 million. (Reporting by Arjun Panchadar in Bengaluru; Editing by Shinjini Ganguli)

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