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AP National Business

Synnex: Fiscal Q1 Earnings Snapshot

KION
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Published 5:15 AM

FREMONT, Calif. (AP) — FREMONT, Calif. (AP) — Synnex Corp. (SNX) on Tuesday reported fiscal first-quarter earnings of $167 million.

On a per-share basis, the Fremont, California-based company said it had net income of $1.75. Earnings, adjusted for one-time gains and costs, were $2.93 per share.

The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $2.83 per share.

The high-tech contractor posted revenue of $15.13 billion in the period, missing Street forecasts. Five analysts surveyed by Zacks expected $15.74 billion.

For the current quarter ending in May, Synnex expects its per-share earnings to range from $2.25 to $2.75.

The company said it expects revenue in the range of $14 billion to $15 billion for the fiscal second quarter.

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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

Article Topic Follows: AP National Business

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