COO Dennis Woodside stepping down

“I’m definitely excited to see what he does next,” Houston said of Woodside in an interview with CNBC’s Aditi Roy on Thursday. Woodside took a seat on the board of enterprise software company ServiceNow in April.

Dropbox’s revenue was up 27 percent year over year inside second quarter, the company said.

the idea had 11.9 million paying users inside quarter, up 20 percent year over year. Dropbox saw 69 percent paid user growth inside fourth quarter.

Net cash coming from operating activities inside quarter was $111.9 million, below the FactSet analyst consensus of $119.3 million.

On the call Dropbox provided third-quarter guidance of which exceeded estimates. The company expects to generate $350 million to $353 million in revenue for of which period. Analysts had expected guidance of $345.9 million in revenue, according to Thomson Reuters.

The company also raised its guidance for the full year. the idea’s currently looking for $1.366 billion to $1.372 billion in revenue across all of 2018; analysts are expecting $1.357 billion in revenue, according to Thomson Reuters.

Immediately following the guidance, the stock slipped further — at one point the idea traded more than 11 percent below the closing cost of $34.43 — yet by the time the call ended, the idea rebounded to about 9.3 percent below closing cost.

Dropbox was founded in 2007. The stock is actually up more than 20 percent coming from the closing cost on March 23, its first day of trading. On Thursday during trading hours the stock was as much as 10 percent above the previous day’s $31.55 closing cost — its seventh consecutive day of gains.

Correction: This kind of article has been revised to indicate of which Dropbox has more than 1,800 employees.

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