Tech Data Reports First Quarter Fiscal Year 2021 Results

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Tech Data (TECD) Tops Q1 EPS by 57c, Revenues Beat

May 28, 2020 6:03 AM EDT

Tech Data (NASDAQ: TECD) reported Q1 EPS of $2.22, $0.57 better than the analyst estimate of $1.65. Revenue for the quarter came in at $8.18 billion versus the consensus estimate of $7.89 billion.

Net sales were $8.2 billion, a decrease of 3 percent compared to the prior-year quarter. Portfolio optimization actions reduced net sales by approximately 3 percent. On a constant currency basis, net sales decreased 1 percent.Americas: Net sales were $3.9 billion, an increase of 4 percent compared to the prior-year quarter. Portfolio optimization actions reduced net sales by approximately 2 percent. On a constant currency basis, net sales increased 5... More