Entering text into the input field will update the search result below

Synchronoss +13.7% thanks to guidance, cloud growth

Jul. 29, 2014 12:44 PM ETSynchronoss Technologies, Inc. (SNCR) StockBy: Eric Jhonsa, SA News Editor
  • Synchronoss (NASDAQ:SNCR) guided on its Q2 CC (transcript) for Q3 revenue of $117M-$120M and EPS of $0.43-$0.45, above a consensus of $109.2M and $0.42. The company also now expects 2014 revenue of $440M-$446M and EPS of $1.66-$1.72, largely above a consensus of $426.9M and $1.66.
  • Q2 results slightly beat estimates with the help of a 74% Y/Y increase in white-label cloud services revenue to to $46.7M (45% of total revenue). Activation services revenue fell 3% Y/Y to $56.9M, something Synchronoss blames on tough comps.
  • The cloud growth was fueled by a 30%+ Q/Q increase in recurring revenue. Recurring streams (subscription/transaction-based) now make up 77% of total revenue.
  • Synchronoss expects its cloud ops to exit 2014 on a $200M+ annual revenue run rate; the Voxmobili acquisition will help a bit. The company is also upbeat about sales to top customer AT&T, which recently reported strong Q2 net adds (its service revenue was softer).
  • SG&A spend rose 15% Y/Y in Q2 to $17.1M. R&D spend rose 5% to $14.9M.
  • Q2 results, PR

Recommended For You

More Trending News

About SNCR Stock

SymbolLast Price% Chg
Market Cap
PE
Yield (TTM)
Rev Growth (YoY)
Prev. Close
Compare to Peers

Related Stocks

SymbolLast Price% Chg
SNCR--
Synchronoss Technologies, Inc.