Tech company Dropbox said on Thursday its fourth-quarter revenue increased by 5.9% on an annual basis to reach $598.8 million, with the number of paying users rising 5.8% to 17.77 million. The average revenue per paying user stood mostly unchanged at $134.53. The company's net income surged 163% to $328.3 million, with diluted earnings per share nearly tripling to $0.93.
The full-year revenue expanded by 7.7% to $2.33 billion, with net income jumping 65% to $553.2 million. Dropbox's 2022 diluted earnings per share nearly doubled to $1.52.
"2022 was a solid year for Dropbox amidst a challenging macroeconomic environment ... Looking ahead to 2023, we remain focused on executing against our strategic objectives, improving our operational efficiency, and continuing to leverage advancements in AI and ML into our product roadmap," CEO Drew Houston noted.
Dropbox stock lost nearly 2% in the after-hours trading following the data.
