DBX Stock Recent News

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Reclaim.ai, a Portland, Ore.-based startup that uses AI to help companies prioritize tasks and coordinate schedules with a calendar app, has been acquired by file management giant Dropbox.

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Dropbox posted weak Q2 results that do little to reassure investors that the stock is capable of a rebound. Revenue growth decelerated to 1.8%, which is virtually zero growth as customer additions continue to be low. In the enterprise space, Dropbox faces stiff competition from Box, while on the lower end, consumers get more free storage from Google Drive.

Dropbox has seen slowing growth, but beat earnings estimates last week and reported 18.22 million paying users. The company offers various premium services related to data storage and sharing, investing in AI technology for a competitive advantage. Dropbox's balance sheet shows negative shareholder equity, but manageable debt with potential for growth if user conversion to paid services continues.

Dropbox's (DBX) second-quarter 2024 results benefit from an increase in average revenue per paying user.

Dropbox Inc DBX stock is trading higher after the company reported better-than-expected second-quarter financial results Thursday.

Dropbox (DBX) came out with quarterly earnings of $0.60 per share, beating the Zacks Consensus Estimate of $0.52 per share. This compares to earnings of $0.51 per share a year ago.

Dropbox, Inc. (NASDAQ:DBX ) Q2 2024 Earnings Conference Call August 8, 2024 5:00 PM ET Company Participants Peter Stabler - IR Andrew Houston - Co-Founder & CEO Timothy Regan - CFO Conference Call Participants Luv Sodha - Jefferies Steven Enders - Citigroup Kash Rangan - Goldman Sachs Mark Murphy - JPMorgan Operator Good afternoon, ladies and gentlemen, and thank you for joining Dropbox's Second Quarter 2024 Earnings Conference Call. All participants will be in listen-only mode.

Although it is always a good idea to monitor volume change and price resilience, some stocks — especially those categorized as overhyped stocks to sell when they reach new highs — have more fishy fundamentals than others, particularly if there is a possibility of a recession. The global equity sell-off on Monday certainly hinted at a hard landing scenario.