Synchronoss Technologies: Q2 Earnings Insights

Shares of Synchronoss Technologies (NASDAQ:SNCR) rose in after-market trading after the company reported Q2 results.

Quarterly Results

Earnings per share were down 268.75% year over year to ($0.27), which missed the estimate of ($0.20).

Revenue of $71,532,000 decreased by 6.54% from the same period last year, which beat the estimate of $66,670,000.

Outlook

Synchronoss Reaffirms FY21 Sales Guidance Of $275M-$285M vs $278.85M Est.

Details Of The Call

Date: Aug 09, 2021

Time: 04:30 PM

ET Webcast URL: https://edge.media-server.com/mmc/p/bu3evpv2

Technicals

52-week high: $6.59

Company's 52-week low was at $2.35

Price action over last quarter: down 1.63%

Company Description

Synchronoss Technologies Inc is a provider of cloud- and software-based activation solutions for mobile carriers, enterprises, retailers, and original equipment manufacturers. These solutions are delivered through the Activation Services, Synchronoss Personal Cloud, Enterprise, and Integrated Life platforms, which are scalable and available on-demand. The firm's solutions include activation and processing, cloud-based sync, backup, storage, and content engagement capabilities. The company derives revenue from subscriptions and transaction-based fees. A majority of the firm's revenue is generated in the United States, and the rest is from countries across the world.

Market News and Data brought to you by Benzinga APIs

To add Benzinga News as your preferred source on Google, click here.