TD Synnex (NYSE: SNX) reported its fourth-quarter earnings results on Tuesday, January 9, 2024, beating estimated earnings by 16.79%. The company reported an earnings per share (EPS) of $3.13, surpassing the estimated EPS of $2.68.
However, the revenue for the quarter was down $1.84 billion compared to the same period last year. Despite the decline in revenue, the better-than-expected earnings performance was a positive sign for the company.
Looking back at TD Synnex’s past performance, in the previous quarter, the company beat EPS estimates by $0.3, which led to a 2.98% increase in the share price the following day. This indicates that investors have reacted positively to the company’s ability to exceed expectations.
To provide a broader perspective on TD Synnex’s earnings performance, let’s take a look at its past four quarters. In the third quarter of 2023, the EPS estimate was 2.48, but the actual EPS came in at 2.78. In the second quarter of 2023, the estimated EPS was 2.55, while the actual EPS was 2.43. In the first quarter of 2023, the EPS estimate was 2.85, and the company reported an actual EPS of 2.93. Lastly, in the fourth quarter of 2022, the estimated EPS was 2.91, but TD Synnex delivered an actual EPS of 3.44.
Similarly, in terms of revenue, the actual figures have varied from the estimated values. In the third quarter of 2023, the revenue estimate was 14.11 billion, but the actual revenue was slightly lower at 13.96 billion. In the second quarter of 2023, the estimated revenue was 14.42 billion, while the actual revenue was 14.06 billion. In the first quarter of 2023, the revenue estimate was 15.75 billion, and the company reported an actual revenue of 15.12 billion. Finally, in the fourth quarter of 2022, the estimated revenue was 15.82 billion, but TD Synnex exceeded expectations with an actual revenue of 16.25 billion.
Investors interested in tracking TD Synnex’s earnings releases can visit their earnings calendar on the Benzinga website.
It’s important to note that this article was generated by Benzinga’s automated content engine and reviewed by an editor. Benzinga does not provide investment advice.
In conclusion, TD Synnex’s Q4 earnings report showed better-than-expected earnings, beating estimated EPS by 16.79%. Despite a decline in revenue compared to the same period last year, the company’s ability to exceed earnings expectations is a positive sign for investors.
