Tech Data Posts Fiscal Q1 Beat

Tech Data reported Thursday financial results for fiscal Q1, with better-than-expected earnings and revenue; it also provided in line guidance for Q2 earnings. For the quarter ended April 30, the wholesale distributor of technology products posted non-GAAP earnings of $1.87 per share, compared with the prior-year period’s $1.05 per share. Analysts polled by Capital IQ were expecting EPS of $1.33.

Revenue was $7.66 billion, up 29% from $5.96 billion in the same quarter last year. The Street view was for revenue of $7.31 billion. The company expects Q2 non-GAAP EPS of $1.95 – $2.08 on revenue of $8.55 billion – $8.8 billion. The Street view is for EPS of $2.07 on revenue of $8.38 billion.

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