Aaron Rennie
1 min read
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Shares of TD Synnex (SNX) jumped over 6% in intraday trading Tuesday after the IT services provider posted fiscal second-quarter results above analysts' expectations.
TD Synnex, which has dual headquarters in Fremont, Calif., and Clearwater, Fla., reported adjusted earnings per share (EPS) of $2.99 on revenue that increased 7% year-over-year to $14.95 billion. Analysts polled by Visible Alpha had expected $2.72 and $14.31 billion, respectively.
"Our Q2 results demonstrate the continued strength of the IT Distribution and Hyperscaler markets, meanwhile, our strategy and the execution of our team are enabling us to grow ahead of market," CEO Patrick Zammit said.
For the third quarter, TD Synnex sees adjusted EPS of $2.75 to $3.25 on revenue of $14.7 billion to $15.5 billion. The midpoints of both ranges are above Visible Alpha consensus projections.
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