SYNNEX Corporation (SNX) Releases Earnings Results, Beats Expectations By $0.48 EPS

SYNNEX Corporation (SNX) announced its most recent quarterly financial results on Tuesday, Jan-10-2017. SNX said it had a profit of $2.57 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.48. Analysts had a consensus of $2.09. The company posted revenue of $3887.00 million in the period, compared to analysts expectations of $3890.88 million. SNX’s revenue was up 9.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.80 EPS.

SYNNEX Corporation closed down -1.64 points or -1.33% at $121.67 with 2,11,652 shares getting traded on Friday. Post opening the session at $123.78, the shares hit an intraday low of $121.47 and an intraday high of $123.78 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

In a different news, on Jan 6, 2017, Dennis Polk (Chief Operating Officer) sold 1,000 shares at $122.12 per share price. According to the SEC, on Jan 5, 2017, Fred A Breidenbach (director) sold 390 shares at $122.12 per share price. On Nov 2, 2016, Matthew Miau (director) sold 3,000 shares at $102.09 per share price, according to the Form-4 filing with the securities and exchange commission.

Synnex Corporation is a business process services company. The Company offers a range of services to resellers retailers and original equipment manufacturers financial and insurance institutions and other industry verticals across the world. The Company’s primary business process services are wholesale information technology (IT) distribution and outsourcing services. The Company operates in two segments: distribution services also known as Technology Solutions and global business services also known as Concentrix. Its Technology Solutions segment distributes peripherals IT systems including data center server and storage solutions system components software networking equipment and consumer electronics. Its Concentrix segment offers a range of solutions and end-to-end business services focused on customer engagement strategy process optimization technology innovation front and back-office automation and business transformation to clients in various industry verticals.

SYNNEX Corporation

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