Tech Data Corp (NASDAQ:TECD) Finally Ends In Green After Higher Profit But Revenue Fall – (SED, IM, SNX, SED)

Shares of Tech Data Corp (NASDAQ:TECD) celebrated higher profit in start but as the time passed investors weighed more on sales drop but at last won to close up. The IT products distributor reported first quarter earnings attributable to the company of $51.69 million or $1.24 per share higher compared with $48.7 million or $1.03 per share a year ago.

Analysts surveyed by Thomson Reuters had mean expectation for the company to report earnings of $1.16 per share. Net sales for the quarter fell to $5.9 billion as compared to $6.33 billion in the prior-year quarter. Analysts were predicting sales of $6.18 billion. The company said the deteriorating of certain foreign currencies versus the U.S. dollar had a negative impact on the year-over-year net sales comparison by approximately 4 percentage points… Read more

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: