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The Zacks Consensus Estimate for the top line is currently pegged at $62.40 million, indicating a 10.54% decline from the year-ago quarter’s reported figure.
The consensus mark for earnings has been unchanged at breakeven over the past 30 days. Synchronoss reported earnings of 9 cents per share in the year-ago quarter.
Let’s see how things have shaped up prior to this announcement:
Synchronoss Technologies, Inc. Price and EPS Surprise
Synchronoss has been benefiting from an expanding partner base and customer base driven by strong demand for its cloud-based solutions.
Partnerships with Alphabet (GOOGL - Free Report) and Alibaba (BABA - Free Report) for its personal cloud and email suite services have been aiding Synchronoss’ prospects. Cloud revenues, which accounted for 67% of the company’s total revenues, grew 12% year over year in the second quarter of 2022.
The Alibaba and Alphabet partnerships are helping Synchronoss to expand its global footprint. The e-mail solution on Alphabet’s Google Cloud platform allows customers to deploy and scale the Synchronoss e-mail suite globally. It also creates opportunities to expand Synchronoss’ email and Advanced Messaging solutions.
Synchronoss’ personal cloud and email suite, which supports more than 250 million subscribers and stores more than 142 petabytes of data, has been made available through Asia and beyond with certifications from Alibaba and Google Cloud.
Synchronoss’ personal cloud solution has also been certified by Amazon (AMZN - Free Report) . In the second quarter of 2022, Synchronoss completed its migration to a core e-mail solution with Altice, which marked the first fully-hosted deployment on Amazon’s cloud platform, Amazon Web Services.
In the to-be-reported quarter, Synchronoss rolled out two new premium personal cloud solutions with Telkomsel, expanding its footprint in Indonesia. The company also signed a letter of intent with Street Cred Capital to bundle its cloud solution with the latter’s mobile device financing offerings in North America.
However, this Zacks Rank #2 (Buy) company’s third-quarter results are expected to reflect a challenging macroeconomic environment that has been causing delays in customer decision-making. Sluggish mobile handset purchases and consumer spending don’t bode well for the company’s top-line growth. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Image: Bigstock
Synchronoss (SNCR) to Report Q3 Earnings: What's in Store?
Synchronoss Technologies (SNCR - Free Report) is set to release its third-quarter 2022 results on Nov 8.
The Zacks Consensus Estimate for the top line is currently pegged at $62.40 million, indicating a 10.54% decline from the year-ago quarter’s reported figure.
The consensus mark for earnings has been unchanged at breakeven over the past 30 days. Synchronoss reported earnings of 9 cents per share in the year-ago quarter.
Let’s see how things have shaped up prior to this announcement:
Synchronoss Technologies, Inc. Price and EPS Surprise
Synchronoss Technologies, Inc. price-eps-surprise | Synchronoss Technologies, Inc. Quote
Factors to Consider
Synchronoss has been benefiting from an expanding partner base and customer base driven by strong demand for its cloud-based solutions.
Partnerships with Alphabet (GOOGL - Free Report) and Alibaba (BABA - Free Report) for its personal cloud and email suite services have been aiding Synchronoss’ prospects. Cloud revenues, which accounted for 67% of the company’s total revenues, grew 12% year over year in the second quarter of 2022.
The Alibaba and Alphabet partnerships are helping Synchronoss to expand its global footprint. The e-mail solution on Alphabet’s Google Cloud platform allows customers to deploy and scale the Synchronoss e-mail suite globally. It also creates opportunities to expand Synchronoss’ email and Advanced Messaging solutions.
Synchronoss’ personal cloud and email suite, which supports more than 250 million subscribers and stores more than 142 petabytes of data, has been made available through Asia and beyond with certifications from Alibaba and Google Cloud.
Synchronoss’ personal cloud solution has also been certified by Amazon (AMZN - Free Report) . In the second quarter of 2022, Synchronoss completed its migration to a core e-mail solution with Altice, which marked the first fully-hosted deployment on Amazon’s cloud platform, Amazon Web Services.
In the to-be-reported quarter, Synchronoss rolled out two new premium personal cloud solutions with Telkomsel, expanding its footprint in Indonesia. The company also signed a letter of intent with Street Cred Capital to bundle its cloud solution with the latter’s mobile device financing offerings in North America.
However, this Zacks Rank #2 (Buy) company’s third-quarter results are expected to reflect a challenging macroeconomic environment that has been causing delays in customer decision-making. Sluggish mobile handset purchases and consumer spending don’t bode well for the company’s top-line growth. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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