Synchronoss Technologies Announces Third Quarter Results
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Synchronoss Technologies (SNCR) Misses Q3 EPS by 31c, Slight Beat on Revenues
November 7, 2018 4:57 PM ESTSynchronoss Technologies (NASDAQ: SNCR) reported Q3 EPS of ($0.84), $0.31 worse than the analyst estimate of ($0.53). Revenue for the quarter came in at $83.3 million versus the consensus estimate of $83 million.
Synchronoss delivers $83.3 million of revenue compared to $76.7 million in the second quarter, up 8.5% sequentially.Synchronoss drives $4.5 million of adjusted EBITDA, which includes a one-time expense of $4.9 million from a prior quarter. Normalized adjusted EBITDA for the third quarter was $9.4 million with an EBITDA margin of 11.2%.Synchronoss cash flow provided by operations during the quarter was $10.7 million.Synchronoss is on track to... More