- Dropbox Inc on Thursday reported a better-than-expected quarterly profit, raised its outlook for operating margin and announced a $600 million share buyback, sending its shares up 11% in trading after the bell.
The company raised its operating margin target between 28% and 30%, which it expects to achieve by 2024, up from its initial range of 20% to 22%. He added that the move was “pretty unusual” given that the company went public less than two years ago.
There goes that double bottom trade setup I was following.
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