SYNNEX Corp. (SNX) Tops Q2 EPS by 29c, Offers Guidance, Approves $300M Buyback

SYNNEX Corp. (NYSE: SNX) reported Q2 EPS of $2.08, $0.29 better than the analyst estimate of $1.79. Revenue for the quarter came in at $3.94 billion versus the consensus estimate of $3.72 billion.

GUIDANCE:

SYNNEX Corp. sees Q3 2017 EPS of $1.94-$2.02 vs consensus of $1.94. SYNNEX Corp. sees Q3 2017 revenue of $3.9-4.1 billion, versus the consensus of $3.82 billion.

Share Repurchase Announcement

SYNNEX announced today that its Board of Directors has approved an anti-dilution repurchase program of up to $300 million of its Common Stock over a period of up to three years effective July 1, 2107. Any stock repurchases may be made through open market and privately negotiated transactions, at times and in such amounts as management deems appropriate, including pursuant to one or more Rule 10b5-1 trading plans adopted in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934.

For earnings history and earnings-related data on SYNNEX Corp. (SNX) click here.

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