Why TD Synnex Shares Are Sliding Today
Portfolio Pulse from Lekha Gupta
TD Synnex Corp (NYSE:SNX) reported a 7.9% Y/Y decline in Q2 FY23 revenue to $14.06 billion, missing the consensus of $14.42 billion. Adjusted EPS was $2.43, below the consensus of $2.55. The company declared a quarterly dividend per share of $0.35 and expects Q3 revenue of $13.5 billion-$14.5 billion, below the consensus of $14.96 billion.
June 27, 2023 | 2:13 pm
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NEGATIVE IMPACT
TD Synnex's Q2 FY23 revenue and adjusted EPS missed expectations, and the company's Q3 outlook is below consensus. Shares traded lower by 7.67% at $90.21.
TD Synnex's Q2 FY23 revenue and adjusted EPS missed analyst expectations, and the company provided a Q3 outlook that is below consensus. This negative news is likely to have a short-term negative impact on the stock price, as evidenced by the 7.67% decline in share price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100