The company signaled strong momentum by setting a fiscal third-quarter revenue guidance between $18.2 billion and $19 billion, comfortably ahead of the $16.8 billion consensus among analysts polled by FactSet. Adjusted earnings are similarly expected to hit $4.25 to $4.75 a share, surpassing the $4.03 estimate.
In section Market Quotes
TD Synnex Shares Surge Toward Record High on Revenue Beat
Shares of IT distributor TD Synnex climbed 7% to $303.01 in premarket trading, putting the stock on a path to notch an all-time record. This rally follows a second-quarter performance that significantly outpaced Wall Street projections, coupled with a fiscal outlook that blew past analyst expectations for the coming months.
These projections follow a robust second quarter where profit rose to $334 million, or $4.15 a share, compared with $185 million, or $2.21 a share, a year earlier. Excluding one-time items, adjusted earnings reached $4.85 a share against a $4.14 forecast. Revenue for the period climbed 31% to $19.58 billion, easily clearing the $16.8 billion projection.
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