Stock Track | Dropbox Plunges 6.7% After-Hours Despite Q3 Earnings Beat

Stock Track2024-11-08

Dropbox Inc. (DBX) saw its shares tumble 6.7% in after-hours trading on Thursday, despite reporting better-than-expected earnings and revenue for the third quarter of 2024. The cloud storage company reported Q3 non-GAAP earnings of $0.60 per share, beating analyst estimates of $0.53. Revenue for the quarter came in at $638.8 million, also surpassing expectations of $636.9 million.

While the headline numbers exceeded Wall Street expectations, the company's guidance or other aspects of the results may have disappointed investors. Despite the earnings beat, Dropbox's stock plunged sharply in extended trading, indicating that the market was not entirely satisfied with the overall performance or outlook.

Analysts and investors will likely scrutinize Dropbox's profitability metrics, growth rates, and forward guidance during the earnings call and in the coming days. The significant sell-off suggests that concerns may exist regarding the company's ability to sustain its growth trajectory or meet certain financial targets, even as it delivered a solid quarter on the surface.

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(DBX) saw its shares tumble 6.7% in after-hours trading on Thursday, despite reporting better-than-expected earnings and revenue for the third quarter of 2024. The cloud storage company ...</p>\n\n<a href=\"\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"DBX","symbol_name":"Dropbox Inc.","start_time":0,"source_url":"","article_id":"1104971143","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1104971143","pubTimestamp":1731036087,"columns":[],"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Dropbox Inc.  saw its shares tumble 6.7% in after-hours trading on Thursday, despite reporting better-than-expected earnings and revenue for the third quarter of 2024. The cloud storage company reported Q3 non-GAAP earnings of $0.60 per share, beating analyst estimates of $0.53. 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