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Dropbox Inc (NYSE:DBX), the cloud storage service provider, reported third quarter sales and profits that grew year-over-year and were ahead of Wall Street estimates. Its revenue grew 7.1% from the same period last year to $633 million, above estimates of $627.7 million.

Dropbox, Inc. (NASDAQ:DBX ) Q3 2023 Earnings Call Transcript November 2, 2023 5:00 PM ET Company Participants Karan Kapoor - Head of Investor Relations Tim Regan - Chief Financial Officer Conference Call Participants Matt Bullock - Bank of America Sonak Kolar - JPMorgan Steve Enders - Citi Richard Poland - RBC Capital Markets Eylon Liani - Jefferies Pat Walravens - JMP Securities Operator Good afternoon, ladies and gentlemen, thank you for joining Dropbox's Third Quarter 2023 Earnings Conference Call. All participants will be in a listen-only mode.

Dropbox Inc (NASDAQ:DBX) is down 3.7% at $26.30 at last check, as the tech sector struggles on the heels of Alphabet's (GOOGL) cloud revenue miss.

Dropbox will pay $79 million to give up 165,000 square feet of office space at its San Francisco HQ. The company switched to remote working during the pandemic and workers now follow a '90/10' routine.

San Francisco is seeing its highest office vacancy rate since at least 2007 as Dropbox and other companies allow employees to work from home

CNBC's Deirdre Bosa sits down with Dropbox CEO Drew Houston to discuss how their paying subscribers are utilizing their AI tools, whether their AI tools have allowed them to broaden their reach in enterprise space, and more.

There are great deals in any market -- and right now the market has sold off some great companies with solid cash flows and very sticky businesses. Higher interest rates will also put pressure on businesses, but three of these stocks have no net debt and are buying back shares.

Dropbox has evolved into a mature business with a focus on strong free cash flows. Founder Andrew Houston's significant voting power suggests it's unlikely to be acquired. With growing paying user numbers and a healthy balance of cash and convertible debt, Dropbox has the potential to increase its share buyback program in the near future.

Dropbox enables users to share and collaborate on all their content. Despite tough competition, Dropbox shows no signs of stopping its consistent growth.

MariaDB PLC shares MRDB, -1.36% jumped 9% in premarket trading on Monday after venture capital group Runa Capital said Friday it had offered to buy the system software group for 56 cents a share in cash, representing a premium of around 24% based on the Sept. 13 closing price for MariaDB shares.