10 Stocks Record Biggest Double-Digit Drop on Friday

6. Dropbox Inc. (NASDAQ:DBX)

Dropbox fell for a third consecutive day on Friday, losing 16.15 percent to finish at $26.73 apiece as investors unloaded portfolios following a dismal earnings performance last year.

In a statement, DBX said net income dropped by 55 percent to $102.8 million in the fourth quarter of the year from $227.3 million in the same period a year earlier while revenues inched up by only 1.3 percent to $643.6 million from $635 million.

Net income for the full year was also flat at $452.3 million from $453.6 million in 2023, while revenues eked out a 1.8-percent gain at $2.548 billion from $2.501 billion.

“Looking ahead to 2025, we’ll continue with our strategy of scaling Dash, simplifying and strengthening our profitable core business, and integrating Dash and FSS to deliver even greater value to our customers. While still early, the positive feedback from our Dash users has been encouraging, validating the need for practical AI-powered tools that solve real customer pain points in finding and securing all their content,” said DBX CEO Drew Houston.

Dash is DBX’s AI-powered universal search tool which makes it easy for teams to search, organize, share, and protect content from across their connected apps, all in one place.