Dropbox Inc.'s (DBX) stock experienced a significant 10.59% plummet in pre-market trading on Friday, February 21.
The cloud storage and collaboration platform disclosed several adverse factors weighing on investor sentiment in its earnings report and outlook:
While Dropbox reported a 23% year-over-year growth in free cash flow per share for the fourth quarter and reduced its diluted share count through share repurchases, the challenges surrounding user decline and revenue growth overshadowed these positive aspects, contributing to the stock's sharp decline.
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