Recap: Synchronoss Technologies Q4 Earnings
Portfolio Pulse from Benzinga Insights
Synchronoss Technologies (NASDAQ:SNCR) reported Q4 earnings with an EPS of $-0.85, missing estimates by -750.0% and a revenue decrease of $20.23 million from the previous year. The company had previously beaten EPS estimates in Q3 2023 but experienced a 16.0% share price drop the following day.
March 12, 2024 | 8:55 pm
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NEGATIVE IMPACT
Synchronoss Technologies reported a significant miss in Q4 earnings with an EPS of $-0.85 against an estimate of $-0.1, and a year-over-year revenue decrease.
The significant miss in earnings and the decrease in revenue year-over-year are likely to negatively impact investor sentiment and the stock price in the short term. Historical performance shows a 16.0% drop in share price following a previous earnings beat, indicating high sensitivity to earnings reports.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100