Tech company Dropbox's shares fell more than 10% on Friday, hours after the publication of its latest earnings report. Despite posting better-than-expected results, investors are disappointed as its growth decelerated further.
Earlier, the company said that its revenue increased by 5.9% on an annual basis to reach $598.8 million. Meanwhile, revenue per paying user stood unchanged at $134.53, and diluted earnings per share came in at $0.93. For the full year, diluted earnings per share nearly doubled to $1.52.
Year-to-date, the company's shares are down almost 4%. At 12:37 pm ET, the shares went down by 10.41% to sell for $21.47.
