TD Synnex Corp’s share rose 4.4% in pre-conference trading as the IT distribution company reported quarterly earnings and revenue growth higher than expected, while giving optimistic estimates for the year as a whole.
Net income for the quarter ended Feb. 28 was $ 132.3 million, or $ 1.37 a share, up from $ 87.8 million, or $ 1.69, a year earlier.
Excluding extraordinary items, adjusted earnings per share rose to $ 3.03 from $ 1.89, compared to estimates for $ 2.73.
Revenue more than tripled as it completed its merger with TechData, rising 213.2% to $ 15.47 billion, up from an estimate of $ 15.31 billion.
For the year 2022, the company expects adjusted earnings per share of $ 11.15-11.65, compared to converging estimates for $ 11.11.
Source: Capital
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