Silver Spring Networks Earnings: Everything You Must Know Now
Silver Spring Networks (NYSE:SSNI) had a loss and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
Silver Spring Networks Earnings Cheat Sheet
Revenue: Was the same at $73.77 million as the year-earlier quarter.
Actual vs. Wall St. Expectations: Silver Spring Networks reported adjusted EPS loss of $0.80 per share. By that measure, the company missed the mean analyst estimate of $-0.66. It beat the average revenue estimate of $70.14 million.
Quoting Management: “We had a good first quarter with 24% growth and we signed some terrific new customers,” said Scott Lang, Chairman, President, and Chief Executive Officer. “We are seeing strong global market interest for our leading networking platform, solutions and services as utilities look to modernize their power grid with technology. We are committed to extending our technology leadership and delivering significant benefits for our customers.”
Key Stats (on next page)…
Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from $0 to a loss of $0.19. For the current year, the average estimate has moved down from $0 to a loss of $0.02 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)