![]() ![]() ![]() The big story is the 600 million buyback, which is a clear indication that Dropbox views their stock as undervalued and that management is bullish on the future of the company. ![]() On Twitter, Facebook, Google News, and Instagram. Definition of Buyback in the dictionary. ![]() Revenue rose 18.6% to $446 million, edging past the average analyst estimate of $443.3 million, according to IBES data from Refinitiv.įollow HT Tech for the latest tech news and reviews, also keep up with us The company has also benefited from its "freemium" model, where consumers can use its basic services for free but have to pay for additional services.Īlso read: Apple simplifies iCloud website interface for iOS, Android mobile usersĮxcluding items, it earned 16 cents per share, above expectations of 14 cents per share.Īverage revenue per user rose to $125 from $119.6 a year earlier, while analysts had estimated $124.8 for the quarter ended Dec. Stock buybacks are when companies buy back their own stock, removing it from the marketplace. The company, which counts National Geographic and Spotify Technology SA among its customers, said it had 14.3 million paid subscribers at the end of the fourth quarter.Īnalysts had expected 14.2 million subscribers, according to research firm FactSet.ĭropbox has been trying to attract customers through tools that allow users to create and share documents across platforms, including Google Docs and Microsoft Office. He added that the move was "pretty unusual" given that the company went public less than two years ago. Davidson & Co.Īlso read: This software could cut 85% storage space on your phone "The big story is the $600 million buyback, which is a clear indication that Dropbox views their stock as undervalued and that management is bullish on the future of the company," said Rishi Jaluria, an analyst from brokerage D.A. ![]()
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