Dropbox Shares Drop on Declining Paying Users Forecast
The software company said it expects paying users to decline 1.5% to 300,000 users. Half of the decline will be a result of Dropbox's reduced investment in FormSwift, said Chief Financial Officer Timothy Regan. The remaining half is expected to stem from a reduced outbound sales force subsequent to its reduced employee headcount.
Shares of Dropbox (DBX) fell about 7% premarket on Friday after the company's outlook came in below expectations.
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