Dropbox revenue jumps 16% to $467.5M
American file hosting service company Dropbox, Inc. reported its revenue in the fiscal second quarter of 2020 rose 16% on the year to $467.4 million. Total ARR was $1.931 billion, up 17% year-over-year.
In the update released on Thursday, Dropbox said paying users increased from 13.6 million to 15 million, with average revenue per paying user of $126.88, up from the $120.48 reported in the same period last year. Diluted earnings per share were $0.04 after the company posted a loss per share of $0.05 in the year-ago period.
Shares of Dropbox fell 3.78% to $22.39 following the quarterly update.
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