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Dropbox: 3Q Earnings Snapshot

·1 min read

SAN FRANCISCO (AP) _ Dropbox Inc. (DBX) on Thursday reported third-quarter net income of $32.7 million, after reporting a loss in the same period a year earlier.

The San Francisco-based company said it had profit of 8 cents per share. Earnings, adjusted for one-time gains and costs, came to 26 cents per share.

The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 19 cents per share.

The online file-sharing company posted revenue of $487.4 million in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $482.6 million.

Dropbox shares have climbed 12% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $20.12, a decrease of nearly 4% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on DBX at https://www.zacks.com/ap/DBX