Synchronoss Technologies Inc reports results for the quarter ended in June - Earnings Summary

Synchronoss Technologies

07/08/2024 24:13

* Synchronoss Technologies Inc  SNCR.OQ  reported quarterly
adjusted earnings of 48 cents​​ per share for the quarter ended
in June, higher than the same quarter last year, when the
company reported EPS of -27 cents.  The mean expectation of
three analysts for the quarter was for earnings of 7 cents per
share. Wall Street expected results to range from 2 cents to 11
cents per share.
    * Revenue fell 27.2% to $43.46 million from a year ago;
analysts
expected $43.14 million. 
    * Synchronoss Technologies Inc's reported EPS for the
quarter was
1 cent​.
    * The company reported quarterly net income of $78 thousand.
    * Synchronoss Technologies Inc shares had risen by 9.5% this
quarter and gained 63.9% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 114.6%
in the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 2 "strong buy" or "buy," 1
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the it services &
consulting peer group is also "buy"

Wall Street's median 12-month price target for Synchronoss
Technologies Inc is $20.00 
This summary was machine generated from LSEG data August 6 at
11:13 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jun. 30 2024      -0.50          0.48           Beat
 Mar. 31 2024      -0.50          0.44           Beat
 Dec. 31 2023      -0.10          -0.85          Missed
 Sep. 30 2023      -0.04          0.45           Beat