I just looked at the main numbers in the press release. Appears that top line grew almost 21% and EPS is up 16%. Cloud grew 43%.
The market is unhappy with the results this morning sending the stock down about 10% as I type.
I haven’t looked further into the call which I’ll do tonight. Therefore, I haven’t seen any guidance which could be a reason for today’s downdraft.
Does anyone out there have a feel for why the market is reacting so?
It seems guidance might have been a bit weak. From Motley Fool contributor Timothy Green:
So what: Synchronoss reported quarterly revenue of $157.2 million, up 20.7% year over year and about $2 million higher than the average analyst estimate. Non-GAAP revenue from cloud services grew by 43% year over year, reaching $90.9 million and accounting for 58% of total non-GAAP revenue.
Non-GAAP earnings came in at $0.61 per share, up from $0.53 per share during the fourth quarter of 2014 and $0.04 better than analyst expectations. On a GAAP basis, the company reported EPS of $0.12, down from $0.30 during the prior-year period.
Now what: Despite the solid results, guidance fell short of analyst expectations. First-quarter revenue is expected to be between $142 million and $147 million, compared to analyst estimates of $156.3 million, while non-GAAP EPS is expected to be between $0.44 and $0.50, compared to analyst estimates of $0.55.
CEO Stephen Waldis is optimistic about the company’s long-term prospects…
Read the entire article at http://www.fool.com/investing/general/2016/02/03/why-shares-…
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See all my positions at http://my.fool.com/profile/CMFCochrane/info.aspx