Tech Data: Fiscal 3Q Earnings Snapshot

November 29, 2018

CLEARWATER, Fla. (AP) _ Tech Data Corp. (TECD) on Thursday reported fiscal third-quarter profit of $114.2 million.

On a per-share basis, the Clearwater, Florida-based company said it had profit of $2.96. Earnings, adjusted for non-recurring costs, were $3.02 per share.

The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $2.19 per share.

The information technology products distributor posted revenue of $9.34 billion in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $8.87 billion.

For the current quarter ending in January, Tech Data expects its per-share earnings to range from $3.90 to $4.20.

The company said it expects revenue in the range of $10.5 billion to $10.9 billion for the fiscal fourth quarter.

Tech Data shares have dropped 25 percent since the beginning of the year. The stock has dropped 28 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on TECD at https://www.zacks.com/ap/TECD

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