I am actually surprised Synchronoss wasn’t mentioned on here earlier. They reported earnings last night which turned out very solid. The stock is now up nicely today reflecting their strong reported earnings and even stronger guidance.
Revenue was up 19.6% yoy to $181 million compared to $151.3 million the previous year. Non-gaap earnings increased 17% to $0.68 from $0.58 a year ago. This gives us a TTM EPS of $2.35. At today’s close of around $44.90 that gives us a P/E of 19. Not bad for a stock growing revenue at 19% and earnings at 17%. They are also guiding for
Their cloud segment which is the growth engine of the company currently has reaccelerated it’s growth. Cloud revenue for the quarter grew 40% on a non-gaap basis to $106.4 million.
Completed key cloud migrations at international customers such as Softbank, America Movil, and British Telecom as they move towards scaling our Personal Cloud Platform.
Management also provided a strong outlook for the next quarter and hinted to a strong 2017. The earnings call had a lot of great information regarding the future of the company. I am afraid if I tried to quote it all I would be quoting too much so I will just let anyone interested read it for yourselves.
Bottom line it sounds like Synchronoss has a lot of great things going on and some wonderful growth numbers for a company trading at a P/E of only 19.