It was a mixed quarter for the company, with a meaningful improvement in gross margin but a slow revenue growth. Dropbox (NASDAQ:DBX)įounded by the long-serving CEO Drew Houston and Arash Ferdowsi in 2007, Dropbox (NASDAQ:DBX) provides a file hosting cloud platform that helps organizations collaborate and share documents.ĭropbox reported revenues of $572.7 million, up 7.93% year on year, in line with analyst expectations. Tech stocks have been hit the hardest as investors start to value profits over growth and productivity software stocks have not been spared, with share price down 10.7% since the previous earnings results, on average. The 16 productivity software stocks we track reported a mixed Q2 on average, revenues beat analyst consensus estimates by 2.6%, while on average next quarter revenue guidance was 0.56% under consensus. Rising employee costs and the shift to more remote work has increased the ever-present pressure to improve corporate productivity, which in turn has driven rising demand for productivity software that enables remote work, streamline project management and automate business tasks. As productivity software stocks’ Q2 earnings season wraps, let's dig into this quarter’s best and worst performers, including Dropbox (NASDAQ:DBX) and its peers.
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