Dropbox falls on lower adj profit, higher Q4 churn
17/02/2023 19:13
** Collaboration platform Dropbox Inc's DBX.O shares down
11.5% at $21.21 - set for their worst day since March 2020
** DBX reported Q4 adj. profit of $0.40/shr, vs $0.41/shr
last year urn:newsml:reuters.com:*:nBw4nF0Fca
** DBX saw elevated customer churn in Q4 vs Q3- conf call
** Also continues to see incremental macro headwinds across
Sign and DocSend businesses- conf call
** Co recorded $162.5 mln in impairment charges related to
real estate assets in Q4 2022
** Last year DBX was down 8.8%
(Reporting by Vedant Vinayak Vichar)
((Vedant.VinayakVichare@thomsonreuters.com))