SYNNEX Q2 Results Trounce Estimates; Guides Q3 EPS Below Consensus

(RTTNews) - SYNNEX Corp. (SNX) reported net income for the second quarter of $39.6 million or $1.01 per share, compared to $30.8 million or $0.81 per share for the year-ago quarter.

Excluding items, adjusted net income for the second quarter was $59.5 million or $1.52 per share, compared to $32.0 million or $0.84 per share in the prior year quarter.

Revenue for the second quarter rose 33.3% to $3.45 billion from $2.59 billion a year ago.

Analysts polled by Thomson Reuters expected the company to earn $1.36 per share on revenue of $3.17 billion for the second quarter. Analysts' estimates typically exclude special items.

Looking forward to the third quarter, the company forecasts revenue of $3.3 billion to $3.4 billion and adjusted earnings of of $1.45 to $1.50 per share. Analysts currently expect the company to earn $1.53 per share on revenue of $3.29 billion for the third quarter.