Synacor Earnings: Here’s Why Investors are Selling Shares Now
Synacor Inc (NASDAQ:SYNC) had a loss and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 15.15%.
Synacor Inc Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased to $0.0 in the quarter versus EPS of $0.04 in the year-earlier quarter.
Revenue: Decreased 13.34% to $26.7 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Synacor Inc reported adjusted EPS loss of $0 per share. By that measure, the company beat the mean analyst estimate of $-0.02. It missed the average revenue estimate of $27.08 million.
Quoting Management: “Synacor continues to be uniquely positioned to capitalize on our rich customer pipeline and new product initiatives,” said Synacor CFO Bill Stuart. “We remain confident about our future and our market opportunity. We continue to build upon our strong technology and exceptional customer base and work through this transition year of 2013.”
Key Stats (on next page)…