Share

Tech Data tops Street 2Q forecasts

|
News,Business

CLEARWATER, Fla. (AP) — Tech Data Corp. (TECD) on Tuesday reported fiscal second-quarter earnings of $39.3 million.

The Clearwater, Florida-based company said it had profit of $1.03 per share. Earnings, adjusted for one-time gains and costs, came to $1.12 per share.

The results exceeded Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 79 cents per share.

The company posted revenue of $6.84 billion in the period, also topping Street forecasts. Analysts expected $6.75 billion, according to Zacks.

Tech Data shares have increased 28 percent since the beginning of the year. The stock has increased 35 percent in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. A stock research report on TECD from Zacks is available at: http://www.zacks.com/ap/TECD

_____

Keywords:Tech Data,Earnings Report

View article comments Leave a comment

More from washingtonexaminer.com