Dropbox shares tumble after earnings

Business 8/9/2018, 11:51 PM
Dropbox shares tumble after earnings

Shares of tech company Dropbox Inc. fell sharply in after-hours trading on Thursday, following the release of quarterly results marked by a $0.14 loss per share in the second quarter of 2018. The results, however, exceeded expectations. The value of Dropbox's stocks lost over 10% less than two hours after the report came out.

The cloud hosting company said as the financial results were released, that its Chief Operating Officer Dennis Woodside will leave his post next month and remain an advisor until the end of the year. Woodside has been the COO of Dropbox since 2014.

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