Synchronoss Technologies Inc reports results for the quarter ended June 30 - Earnings Summary

• Synchronoss Technologies Inc SNCR.OQ reported quarterly adjusted earnings of 10 cents​​ per share for the quarter ended June 30, lower than the same quarter last year, when the company reported EPS of 48 cents. The mean expectation of two analysts for the quarter was for earnings of 50 cents per share. Wall Street expected results to range from 25 cents to 74 cents per share.

• Revenue fell 2.2% to $42.49 million from a year ago; analysts expected $42.79 million.

• Synchronoss Technologies Inc's reported EPS for the quarter was a loss of $1.87​.

• The company reported a quarterly loss of $19.6 million.

• Synchronoss Technologies Inc shares had risen by 14.2% this quarter and lost 18.5% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 6% in the last three months.​

• In the last 30 days, one analyst negatively revised an earnings estimate

RECOMMENDATIONS

• The current average analyst rating on the shares is "strong buy" and the breakdown of recommendations is 2 "strong buy" or "buy," no "hold" and no "sell" or "strong sell." The average consensus recommendation for the it services & consulting peer group is "buy."

• Wall Street's median 12-month price target for Synchronoss Technologies Inc is $26.50, about 70.5% above its last closing price of $7.82

This summary was machine generated from LSEG data August 11 at 09:00 p.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)