Dropbox falls on lower-than-expected annual revenue growth forecast
21/02/2025 12:33
** Shares of cloud platform provider Dropbox DBX.O fall
over 9% to $28.96 in premarket trading
** Co reported worse-than-expected annual revenue forecast
for 2025 on Thursday
** J.P. Morgan said co's 2025 guidance missed consensus
estimates for annual revenue growth by around 3.5 percentage
points, due to an $18 mln foreign exchange headwind and a 150
bps headwind related to FormSwift
** DBX had acquired form management platform FormSwift in
2022
** William Blair said co expects paying users to decline by
roughly 1.5%, or 300,000 users, with around half of the decline
expected in Q1
** Co reported adj. profit of $222.6 mln, or 73 cents/share,
beating analysts' average estimate of 62 cents/share
** DBX shares up 6.1% YTD as of last close; stock rose ~2%
in 2024
(Reporting by Ateev Bhandari in Bengaluru)
((Ateev.Bhandari@thomsonreuters.com;))