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Earnings Results: Dropbox earnings handily beat expectations, stock gains in late trading

Dropbox Inc. earned more cash from each user and grew its paying-customer base in the third quarter, according to a Thursday earnings report, as the company continued to narrow its losses and grow sales faster than Wall Street’s expectations.

Shares of Dropbox DBX, +7.70% closed down 1.1% in Thursday trading and gained between 5% and 9% in immediate after-hours trading following the release of the report. After the company issued its fourth-quarter and full-year guidance on the earnings call the stock was trading up roughly 8%.

Third-quarter net losses were $5.8 million, which amounts to 1 cent a share, narrowing from losses of $14.1 million, or 7 cents a share, in the year-ago quarter.

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