$9.95 billion Dropbox beats Wall Street expectations, but analysts still aren’t sure if it can crack the enterprise space (DBX)

dropbox

  • Dropbox posted $360.3 million in revenue in the third quarter.
  • That beat Wall Street’s forecasts, but analysts’ expectations were low.
  • Dropbox has been trying to break into the enterprise space, but investors and analysts see that as a big challenge, since its service was originally targeted at consumers.
  • The company’s share price has been beaten up in recent months as its growth has slowed.

Dropbox staved off its doubters on Thursday — at least for the time being.

The file-hosting company reported third-quarter results that topped Wall Street’s modest expectations and offered a better-than-expected forecast for the holiday period. It also reported that its average revenue per user rose a bit from last year, a possible indication that its effort to attract business customers might be paying off.

“We delivered another quarter of strong execution,” Dropbox CEO Drew Houston said in a statement. He continued: “We’re shipping product features and updates our users love, based on a deep understanding of our customers and the tools they need to do their best work.”

Investors cheered the results. In recent after-hours trading following its report,

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