Dropbox works with Goldman Sachs on IPO while Intel doubles profit

Dropbox would be busy with the well-known business bank Goldman Sachs to launch a stock exchange. That explains Bloomberg based on sources close to the process. The cloud storage...

Dropbox would be busy with the well-known business bank Goldman Sachs to launch a stock exchange. That explains Bloomberg based on sources close to the process. The cloud storage service would be planning with Goldman Sach’s plans for a possible stock market debut, preferably this year.

It still remains in the informal atmosphere, for example, Dropbox would have approached JPMorgan Chase for a role in the possible IPO, but there is not yet a party that has received an official mandate.

That will also be left out as long as Dropbox itself has not decided whether it will continue with the IPO. A company’s potential IPO has been in the air for years, but for the moment, it continues to drive investors. There will be a moment that they want to “cash”.

Given the high valuation of Dropbox, about $10 billion, a stock market appears to be the most logical option. For a private acquisition, the company has probably become overpriced. Drew Houston, founder and CEO of the company, said in April against Bloomberg: “It’s rare for software companies of our size to operate with our level of profitability and grow at the pace we do.”

Intel doubled its profit in the second quarter, with record sales of almost $15 billion. The biggest chipmaker in the world benefited, among other things, from growth in data centers.

The group reported a quarterly profit of $2.8 billion, against $1.3 billion in the same period last year. Revenue increased by about 9 percent to $14.8 billion.

Partly because of these strong results, Intel has also become more positive in its expectations for the whole year. Now it is estimated that annual sales of $61.3 billion, which is $1.3 billion more than previously anticipated. The estimate for earnings per share went further $0.10 up to $2.66.

Intel, with its quarterly report, exceeded the average expectations of analysts. Not everyone is convinced as analyst Mark Lipacis said “Intel beat and raised on better top line and operational execution, but the low quality of earnings, and accelerated pace of acquisitions are consistent with our Tectonic Shift in Computing Thesis. We continue to believe that Intel’s DCG [data center group] revs will decelerate further in 2018 as AMD and CAVM ramp competitive offerings in servers.”

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