Synchronoss Technologies, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 08, 2023 at 04:35 pm EDT
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Synchronoss Technologies, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 59.71 million compared to USD 65.24 million a year ago. Net loss was USD 8.5 million compared to net income of USD 7.85 million a year ago. Basic loss per share from continuing operations was USD 1.17 compared to basic earnings per share from continuing operations of USD 0.54 a year ago. Diluted loss per share from continuing operations was USD 1.17 compared to diluted earnings per share from continuing operations of USD 0.54 a year ago.
For the six months, sales was USD 117.42 million compared to USD 131.1 million a year ago. Net loss was USD 19.42 million compared to net income of USD 4.69 million a year ago. Basic loss per share from continuing operations was USD 2.52. Diluted loss per share from continuing operations was USD 2.52.
Synchronoss Technologies, Inc. is a provider of white label cloud, messaging, digital and network management solutions that enable its customers to keep subscribers, systems, networks and content in sync. The Companyâs Synchronoss Personal Cloud solution is designed to create an engaging and trusted customer experience through ongoing content management and engagement. Its Synchronoss Personal Cloud platform is a white label platform that allows its customersâ subscribers to backup and protect, engage with, and manage their personal content and gives its operator customers the ability to increase average revenue per user (ARPU) and reduce churn. The Synchronoss Personal Cloud platform is designed to support smartphones, tablets, desktops computers, and laptops. Its Advanced Messaging platform is a messaging platform that expands capabilities for communications service provider and multi-service providers to offer Person-to-Person (P2P) messaging via Rich Communications Services (RCS).