Synchronoss Technologies Inc (SNCR)

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Synchronoss earnings jump 34% in third quarter
SAN FRANCISCO (MarketWatch) -- Synchronoss Technologies Inc. said Monday afternoon that earnings for the third quarter jumped 34% thanks to an increase in business from wireless carriers and cable providers. For the quarter ended Sept. 30, Synchronoss (SNCR 13.02, +1.42, +12.24%) said net income was $3.1 million, or 10 cents a share, compaared to net income of $2.3 million, or 7 cents per share, for the same period last year. On a non-GAAP basis, the company said it would have earned $4.4 million, or 14 cents a share, for the recent period. Revenue grew 26% to $33.1 million. Analysts were expecting earnings of 14 cents a share on revenue of $32 million, according to consensus forecasts from Thomson Reuters.