It also offers security features, so a user can set a password needed to access a sensitive document, or revoke access to users with whom a file has previously been shared. “I’m pleased with our team’s execution and performance in Q1, including strong profitability and improved user retention, reflecting our resilience in a challenging macro-environment,” he said.ĭropbox is a leading provider of cloud file storage services and one of the most recognizable names in enterprise tech, with thousands of companies globally using its services to organize and share documents.īesides its basic storage and sharing services, Dropbox provides analytics tools for users to track individual files as they’re shared across an organization. The results met Wall Street’s expectation of 38 cents per share in earnings and beat the Street’s forecast of $558.6 million in sales.ĭropbox co-founder and Chief Executive Drew Houston (pictured) said the company has gotten off to a strong start to fiscal 2022. Revenue for the period came to $562.4 million, up 9.7% from a year ago. The company reported net income of $79.9 million for the quarter with earnings before certain costs such as stock compensation coming to 38 cents per share.

delivered solid fiscal first-quarter financial results today, with earnings that met expectations and revenue that beat them.

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