UPDATE 1-Synnex Q1 profit beats estimate
* Q1 adj EPS $0.66 vs $0.62 est
* Q1 rev $1.94 bln vs $1.95 bln est
* Sees Q2 EPS $0.62-$0.65, rev $1.95 bln-$2.03 bln
* Shares down 2 pct after the bell
March 25 (Reuters) - Synnex Corp (SNX.N) posted a better-than-expected quarterly profit, as the technology distributor gained market share and expanded margins.
For the first quarter ended Feb. 28, net income attributable to the company was $34.7 million, or 98 cents a share, compared with $18.9 million, or 58 cents a share, a year ago.
Net income from continuing operations was 66 cents a share.
Revenue rose 12.5 percent to $1.94 billion.
Analysts were expecting earnings of 62 cents a share, excluding items, on revenue of $1.95 billion.
Synnex forecast a second-quarter profit of 62 cents to 65 cents a share, on revenue of $1.95 billion to $2.03 billion.
Analysts were looking for 64 cents a share on revenue of $2.03 billion, according to Thomson Reuters I/B/E/S.
Shares of the company were down 2 percent at $31.06 in trading after the bell. They closed at $31.75 Thursday on the New York Stock Exchange.. (Reporting by Manasi Phadke in Bangalore; Editing by Jarshad Kakkrakandy)
- Radar showed missing plane may have turned back: Malaysia military
- Malaysian jetliner may have turned back before vanishing |
- Malaysian plane presumed crashed; questions over false IDs |
- CORRECTED-UPDATE 4-Malaysia Airlines plane crashes in South China Sea with 239 people aboard - report
- Exclusive: Probe into missing Malaysia plane looks at possible mid-air disintegration - source