AP NEWS
Related topics

Synnex: Fiscal 2Q Earnings Snapshot

June 25, 2019

FREMONT, Calif. (AP) _ Synnex Corp. (SNX) on Tuesday reported fiscal second-quarter net income of $114.5 million.

The Fremont, California-based company said it had net income of $2.23 per share. Earnings, adjusted for one-time gains and costs, were $2.86 per share.

The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $2.71 per share.

The high-tech contractor posted revenue of $5.72 billion in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $5.53 billion.

For the current quarter ending in September, Synnex expects its per-share earnings to range from $2.80 to $2.92.

The company said it expects revenue in the range of $5.55 billion to $5.85 billion for the fiscal third quarter.

Synnex shares have climbed 14% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $92.01, a drop of 14% in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SNX at https://www.zacks.com/ap/SNX

All contents © copyright 2019 The Associated Press. All rights reserved.