Tech Data Corp. Q1 adjusted earnings Beat Estimates

(RTTNews) - Tech Data Corp. (TECD) revealed a profit for its first quarter that rose from the same period last year.

The company's earnings came in at $33.69 million, or $0.87 per share. This compares with $30.65 million, or $0.82 per share, in last year's first quarter.

Excluding items, Tech Data Corp. reported adjusted earnings of $70.83 million or $1.84 per share for the period.

Analysts had expected the company to earn $1.46 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 21.8% to $8.55 billion from $7.02 billion last year.

Tech Data Corp. earnings at a glance:

-Earnings (Q1): $70.83 Mln. vs. $70.06 Mln. last year. -EPS (Q1): $1.84 vs. $1.87 last year. -Analysts Estimate: $1.46 -Revenue (Q1): $8.55 Bln vs. $7.02 Bln last year.