Why Synchronoss Shares Jumped

Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of Synchronoss (NASDAQ: SNCR  ) jumped today by as high as 16% after the company reported earnings.

So what: Adjusted revenue in the quarter added up to $85.2 million, beating the Street's best guess of $83.1 million. Non-GAAP earnings per share of $0.31 were also ahead of the $0.29 per share consensus estimate.

Now what: CEO Stephen G. Waldis said Synchronoss beat its own sales expectations, and initial subscriber adoption rates are encouraging. CFO Lawrence R. Irving said the company met its profitability goals and continued investing in its cloud services business. Cloud services grew 30% from a year ago and now comprise nearly a third of total revenue.

Interested in more info on Synchronoss? Add it to your watchlist by clicking here.

It's incredible to think just how much of our digital and technological lives are almost entirely shaped by just a handful of companies. Find out "Who Will Win the War Between the 5 Biggest Tech Stocks?" in The Motley Fool's latest free report, which details the knock-down, drag-out battle being waged by the five kings of tech. Click here to keep reading.


Read/Post Comments (0) | Recommend This Article (4)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2570636, ~/Articles/ArticleHandler.aspx, 11/1/2014 6:29:02 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...


Advertisement