Syniverse Holdings, Inc. (NYSE: SVR) stock was among majors gainers on Wednesday. The stock touched an intraday high of $21.34 after opening at $18.95. The company declared excellent results and issued a positive guidance for future. The stock closed at $21.09, registering a gain of 26.5% compared to previous close. At current market price, the stock is at a P/E multiple of 27.

Total revenues were up by 37% at $115.6 million in the first quarter of year 2008 compared to same quarter previous year. Net profit was up by 101% at $15.4 million for the first quarter. Cash net income stood at $25 million. Number Portability Services revenues were higher by 13.8%. Call processing services revenues increased 16.4%.

Tony Holcombe, CEO Syniverse Holdings said that the company managed to register decent growth as the messaging and mobile data market was strong. The company also benefited from acquisition of BSG Wireless. The company expects to deliver strong results in coming quarters as well.

US Stock markets closed lower on Wednesday as Oil prices touched new lifetime high.

Jim Huckabee from New York contributed this report.