Stock Alert: Dropbox Continues To Rise After Q4 Results

(RTTNews) - Shares of Dropbox Inc. (DBX) are climbing 19% on Friday morning on the back of the fourth-quarter results it reported yesterday that beat Wall Street estimates. Both earnings and revenue surpassed the consensus estimate. Adjusted earnings for the quarter were $0.16 per share, up from $0.10 per share last year. Analysts polled by Thomson Reuters expected earnings of $0.14 per share. Total revenues grew 19% to $446.0 million, and surpassed analysts consensus of $443.4 million. Dropbox's paying users rose to 14.3 million from 12.7 million as of the end of the prior year. Average revenue per paying user increased to $125.00 from to $119.61 last year. DBX is currently trading at $22.32, up $3.60 or 19.26%. The shares are down 21.42% over the last 12 months.