AP NEWS

Tech Data: Fiscal 3Q Earnings Snapshot

November 26, 2019 GMT

CLEARWATER, Fla. (AP) _ Tech Data Corp. (TECD) on Tuesday reported fiscal third-quarter profit of $90.8 million.

On a per-share basis, the Clearwater, Florida-based company said it had profit of $2.52. Earnings, adjusted for one-time gains and costs, were $3.02 per share.

The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $3.01 per share.

The information technology products distributor posted revenue of $9.12 billion in the period, which did not meet Street forecasts. Three analysts surveyed by Zacks expected $9.34 billion.

Tech Data shares have risen 58% since the beginning of the year. The stock has risen 79% in the last 12 months.

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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