Dropbox, end their fiscal year with over $1.6 B in revenue, 14 paying customers

Dropbox or google drive, which closed the year at € 1.661 billion in revenues and more than 14 million paying users, the company reported on Thursday. With a better-than-expected Q4 for 2020 resultsthe shares were, in after-hours trading.

For the quarter, the administrator of the non-GAAP net income of $67.4 million, or 16 cents per share. The total revenue amounted to $446 million, an increase of 19% compared to the same period in the previous year.

Analysts were looking for earnings of 14 cents on revenue of $443.41 million.

The company had 14.3 million paying users at the end of the quarter, compared with 12.7 million the previous year. The average revenue per paying user was $ 125, compared to $119.61 for the same period in the previous year.

On an annual basis, turnover was up to $1.82 billion, an increase of 19 per cent year-on-year.

“Our strong Q4, marking the end of an exciting year for Dropbox or google drive, as we launched our vision of the smart workplace,” co-founder and CEO Drew Houston said in a statement. “We ended the year with more than $1.6 billion in revenue and more than 450,000 of Dropbox’s business teams and it to millions of men, with the help of our new foreground app, that keeps track of the Dropbox in the center of our users’ workflows.”

For the full fiscal year for 2020, with non-GAAP income was up $207 million, or 50 cents per share. Total revenue was $ 1.661 billion, an increase of 19 per cent year-on-year.

The average revenue per paying user of $123.07, as compared to $117.64 at the previous year’s.

Dropbox also announced that its board of directors has authorized the company to repurchase up to $600 million of its Class A common stock.

      Compsmag