Synnex: Fiscal Q2 Earnings Snapshot
Posted Jun 24, 2021 2:38 pm.
Last Updated Jun 24, 2021 2:44 pm.
FREMONT, Calif. (AP) _ Synnex Corp. (SNX) on Thursday reported fiscal second-quarter profit of $93.1 million.
The Fremont, California-based company said it had net income of $1.78 per share. Earnings, adjusted for one-time gains and costs, were $2.09 per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.91 per share.
The high-tech contractor posted revenue of $5.86 billion in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $4.91 billion.
For the current quarter ending in September, Synnex expects its per-share earnings to range from $1.90 to $2.10.
The company said it expects revenue in the range of $4.95 billion to $5.45 billion for the fiscal third quarter.
Synnex shares have risen 48% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $120.91, a rise of 18% 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
The Associated Press
