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Dropbox crushes Wall Street expectations on earnings, but a key exec is stepping down and the stock is tanking (DBX)

markets.businessinsider.com
Dropbox crushes Wall Street expectations on earnings, but a key exec is stepping down and the stock is tanking (DBX)

Dropbox reported its second-ever earnings as a public company on Thursday. The company beat Wall Street's expectations on revenue and earnings per share. But the stock slid on news of Chief Operating Officer Dennis Woodside's impending departure. Dropbox shares fell Thursday following mixed news in its Q2 2018 earnings statement. The company reported a beat on both revenue and earnings per share in its second earnings report ever as a public company. But it also disclosed an unexpected executive departure: Chief Operating Officer Dennis Woodside, long considered a key lieutenant to CEO Drew Houston, is leaving the company. He will stay at Dropbox through early September, and will remain an advisor