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Stock Alert: Dropbox Continues To Rise After Q4 Results

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.

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