SYNNEX Pops on Q3 Earnings Beat
Shares of SYNNEX (NYSE: SNX) are trading higher in the after-hours following the release of the company's Q3 earnings results. Shares are currently up by 4.78%, trading at $26.10; they ended the regular session higher by 5.15%, at $24.91.
SYNNEX reported Q3 EPS of $1.07 on revenues of $2.57 billion; the Street was looking for $0.89 per share on revenues of $2.57 billion. Revenues increased 18.1% year over year.
"I am very pleased with our sales growth and significant margin expansion this past quarter. Our excellent results were driven by increased market share in our core commercial business, our continued focus and execution in key IT growth markets, and new client engagements in our services segment," stated Kevin Murai, President and Chief Executive Officer.
"Our investments in value-added services are gaining traction and continue to further differentiate us from our competitors."
The company issued in-line guidance for Q4, saying it sees EPS in the range of $1.11-1.15 on revenues of $2.78-2.88 billion. The Street was at $1.11 per share on $2.82 billion in revenue.
SYNNEX Corporation is a business process services company, servicing resellers, retailers and original equipment manufacturers, in multiple regions globally.
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