Synacor Inc Earnings: Here’s Why the Stock is Falling Now
Synacor Inc (NASDAQ:SYNC) delivered a profit and met Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 4.55%.
Synacor Inc Earnings Cheat Sheet
Revenue: Rose 96.82% to $32.18 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: reported adjusted EPS income of $0.03 per share. By that measure, the company missed the mean analyst estimate of $0.03. It beat the average revenue estimate of $32.09 million.
Quoting Management: “We are proud of Synacor’s achievements and growth in 2012, as we experienced record numbers of search queries, advertising impressions, and unique visitors. This engagement produced record revenue and adjusted EBITDA for the year,” said Synacor CEO Ron Frankel.
Key Stats (on next page)…