TD SYNNEX Falls On Lower Quarterly Results Below Analysts View

(RTTNews) - Shares of information technology services provider TD SYNNEX Corporation (SNX) are falling more than 7% Tuesday morning after reporting second-quarter results, that missed analysts' view. The company's third quarter outlook also came in below the consensus estimates.

Profit in the second quarter declined to $133.1 million or $1.41 per share from $148.9 million or $1.55 per share in the same quarter a year ago.

Excluding one-time items, earnings were $229 million or $2.43 per share, that missed the average estimate of analysts polled by Thomson-Reuters of $2.55 per share.

Quarterly revenue declined 7.9% year-on-year to $14.062 billion. The consensus estimate was for $14.42 billion.

For the third quarter, the company sees revenue in the range of $13.5 billion to $14.5 billion and adjusted earnings per share in the range of $2.20 to $2.70.

Analysts expect the company to report earnings of $2.76 per share on revenue of$14.96 billion.

SNX is at $90.28 currently. It has traded in the range of $78.86 - $111.57 in the last 1 year.