TD SYNNEX Corporation Q1 Profit Increases, beats estimates

(RTTNews) - TD SYNNEX Corporation (SNX) revealed earnings for its first quarter that increased from the same period last year and beat the Street estimates.

The company's earnings totaled $167.020 million, or $1.75 per share. This compares with $132.324 million, or $1.37 per share, in last year's first quarter.

Excluding items, TD SYNNEX Corporation reported adjusted earnings of $279.235 million or $2.93 per share for the period.

Analysts on average had expected the company to earn $2.85 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 2.2% to $15.125 billion from $15.469 billion last year.

TD SYNNEX Corporation earnings at a glance (GAAP) :

-Earnings (Q1): $167.020 Mln. vs. $132.324 Mln. last year. -EPS (Q1): $1.75 vs. $1.37 last year. -Analyst Estimate: $2.85 -Revenue (Q1): $15.125 Bln vs. $15.469 Bln last year.

-Guidance: Next quarter EPS guidance: $2.25 - $2.75 Next quarter revenue guidance: $14 Bln - $15 Bln