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The Zacks Consensus Estimate for the top line is currently pegged at $41.52 million, indicating a 28.05% decline from the year-ago quarter’s reported figure.
The consensus mark for earnings is pegged at a loss of 50 cents per share, unchanged in the past 30 days.
Let’s see how things have shaped up prior to this announcement.
Synchronoss Technologies, Inc. Price and EPS Surprise
Synchronoss is expected to have benefited from its expanding cloud subscriber base, with expectations in the high single-digit to low double-digit range throughout 2024. Cloud subscriber growth was nearly 9% year over year in the fourth quarter of 2023.
Strengthening international footprint is expected to have driven SNCR’s performance in the to-be-reported quarter.
Synchronoss launched Anshin Data Box in partnership with SoftBank in the fourth quarter to expand its global footprint into the Japanese market and showcase the adaptability and appeal of its Personal Cloud offerings in the global marketplace. The benefits of this partnership are expected to have been reflected in the to-be-reported quarter.
The company’s growing focus on integrating advanced features and functionalities of the latest version of its Personal Cloud Platform, on the back of robust artificial intelligence capabilities, is likely to have enhanced its user experience and utility.
Partnerships with AT&T (T - Free Report) and Verizon Communications (VZ - Free Report) to enhance its personal cloud solutions are expected to have continued aiding Synchronoss’ prospects. Cloud revenues, which contributed 99% to the company’s total revenues, rose 3% year over year in the fourth quarter of 2023.
SNCR’s cloud solutions enable AT&T Personal Cloud, enhancing subscriber experiences and facilitating seamless content transfer and backup for AT&T Mobility wireless customers. This is expected to have boosted SNCR’s clientele.
Its ongoing partnership with Verizon, focusing on continued innovation in cloud services, leveraging AI and machine learning for enhanced user experience and content management, is likely to have acted as growth driver during the quarter under review.
What Our Model Says
Per the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here.
Synchronoss Technologies has an Earnings ESP of +0.00% and a Zacks Rank #5 (Strong Sell) currently. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here is a company worth considering, as our model shows that it has the right combination of elements to beat on earnings in its upcoming release:
Image: Bigstock
Synchronoss (SNCR) to Report Q1 Earnings: What's in Store?
Synchronoss Technologies (SNCR - Free Report) is set to release its first-quarter 2024 results on May 7.
The Zacks Consensus Estimate for the top line is currently pegged at $41.52 million, indicating a 28.05% decline from the year-ago quarter’s reported figure.
The consensus mark for earnings is pegged at a loss of 50 cents per share, unchanged in the past 30 days.
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 Note
Synchronoss is expected to have benefited from its expanding cloud subscriber base, with expectations in the high single-digit to low double-digit range throughout 2024. Cloud subscriber growth was nearly 9% year over year in the fourth quarter of 2023.
Strengthening international footprint is expected to have driven SNCR’s performance in the to-be-reported quarter.
Synchronoss launched Anshin Data Box in partnership with SoftBank in the fourth quarter to expand its global footprint into the Japanese market and showcase the adaptability and appeal of its Personal Cloud offerings in the global marketplace. The benefits of this partnership are expected to have been reflected in the to-be-reported quarter.
The company’s growing focus on integrating advanced features and functionalities of the latest version of its Personal Cloud Platform, on the back of robust artificial intelligence capabilities, is likely to have enhanced its user experience and utility.
Partnerships with AT&T (T - Free Report) and Verizon Communications (VZ - Free Report) to enhance its personal cloud solutions are expected to have continued aiding Synchronoss’ prospects. Cloud revenues, which contributed 99% to the company’s total revenues, rose 3% year over year in the fourth quarter of 2023.
SNCR’s cloud solutions enable AT&T Personal Cloud, enhancing subscriber experiences and facilitating seamless content transfer and backup for AT&T Mobility wireless customers. This is expected to have boosted SNCR’s clientele.
Its ongoing partnership with Verizon, focusing on continued innovation in cloud services, leveraging AI and machine learning for enhanced user experience and content management, is likely to have acted as growth driver during the quarter under review.
What Our Model Says
Per the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here.
Synchronoss Technologies has an Earnings ESP of +0.00% and a Zacks Rank #5 (Strong Sell) currently. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here is a company worth considering, as our model shows that it has the right combination of elements to beat on earnings in its upcoming release:
NVIDIA (NVDA - Free Report) has an Earnings ESP of +2.50% and a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
NVIDIA’s shares have surged 79.3% year to date. NVDA is scheduled to release first-quarter fiscal 2025 results on Jul 22.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.