SAN FRANCISCO (AP) _ Dropbox Inc. (DBX) on Thursday reported a loss of $17 million in its third quarter.
On a per-share basis, the San Francisco-based company said it had a loss of 4 cents. Earnings, adjusted for one-time gains and costs, were 14 cents per share.
The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 11 cents per share.
The online file-sharing company posted revenue of $428.2 million in the period, also topping Street forecasts. Four analysts surveyed by Zacks expected $422.8 million.
Dropbox shares have risen nearly 3% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $20.96, a drop of 16% in the last 12 months.