Synnex Shares Fall After Earnings, Outlook Miss Street View

SAN FRANCISCO – Synnex Corp. shares declined in the extended session Tuesday after the business services company posted quarterly results and an outlook that fell below Wall Street estimates. Synnex shares fell 3% to $74.95 on moderate volume. The company reported adjusted first-quarter earnings of $1.46 a share on revenue of $3.2 billion. Analysts surveyed by FactSet had forecast $1.52 a share on revenue of $3.42 billion. Synnex forecast adjusted second-quarter earnings of $1.50 to $1.56 a share on revenue of $3.38 billion to $3.48 billion. Analysts had expected $1.59 a share on revenue of $3.57 billion.

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