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SAN FRANCISCO (AP) — SAN FRANCISCO (AP) — Dropbox Inc. (DBX) on Thursday reported first-quarter net income of $69 million.
On a per-share basis, the San Francisco-based company said it had profit of 20 cents. Earnings, adjusted for stock option expense and costs related to mergers and acquisitions, came to 42 cents per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 35 cents per share.
The online file-sharing company posted revenue of $611.1 million in the period, also topping Street forecasts. Four analysts surveyed by Zacks expected $601.4 million.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a DBX">Zacks stock report on DBX at https://www.zacks.com/ap/DBX