IT distribution giant TD SYNNEX (NYSE:SNX) will be announcing earnings results tomorrow morning. Here’s what you need to know.
TD SYNNEX beat analysts’ revenue expectations by 4.2% last quarter, reporting revenues of $15.84 billion, up 10% year on year. It was a satisfactory quarter for the company, with a narrow beat of analysts’ EPS estimates.
Is TD SYNNEX a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting TD SYNNEX’s revenue to grow 5.8% year on year to $14.79 billion, a reversal from the 7.6% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $2.91 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. TD SYNNEX has missed Wall Street’s revenue estimates five times over the last two years.
Looking at TD SYNNEX’s peers in the tech hardware & electronics segment, only Jabil has reported results so far. It beat analysts’ revenue estimates by 5.1% and delivered flat year-on-year revenue. The stock traded up 4.1% on the results.
Read our full analysis of Jabil’s earnings results here.Unless you’ve been living under a rock, it should be obvious by now that generative AI is going to have a huge impact on how large corporations do business. We prefer a lesser-known (but still profitable) semiconductor stock benefiting from the rise of AI. Click here to access our free report on our favorite semiconductor growth story.