As CEO Drew Houston summed up at the time "Q3 was another solid quarter with record free cash flow, strong revenue growth, and great progress against our strategic objectives as we focus on delivering more value to our customers and shareholders. Investors would have been forgiven for thinking at the time that the report justified a strong bid to close out the year with a rally, rather than a fairly vicious selloff that's only just starting to lose steam. In addition to these topline and bottom line beats, paying user numbers and the average revenue per paying user showed solid growth compared to the same time period last year.ĭ contributor/ - MarketBeat Positive Sentiment That earnings report had revenue up 13% on the year, comfortably ahead of what analysts had been expecting, while their GAAP EPS print of $0.19 was about 11% higher than the consensus. Considering the cloud storage giant's earnings beat expectations last month, there's a lot to like about Dropbox down at these current levels. That 3% jump could be the start of a rebound, with the stock's relative strength index (RSI) moving steadily higher out of the low 20s.
They've flatlined for the last fortnight and bounced off what's looking like a temporary low yesterday. After a 25% drop in shares over the past month, it's finally starting to look like the Dropbox ( NASDAQ: DBX) bears are starting to get tired.
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