SYNNEX Earnings: Is This the Wrong Direction?

SYNNEX Corp. (NYSE:SNX) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares were up, but are now down 1%.

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SYNNEX Corp. Earnings Cheat Sheet

Results: Net income decreased -13.1% to $43.6 million ($1.16 per diluted share) in the quarter versus a net gain of $50.17 million in the year-earlier quarter.

Revenue: Decreased 2.67% to $2.77 billion from the year-earlier quarter.

Actual vs. Wall St. Expectations: SYNNEX Corp. reported adjusted net income of $1.16 per share. By that measure, the company beat the mean analyst estimate of $1.04. It beat the average revenue estimate of $2.76 billion.