Tech Data Corp. Q1 adjusted earnings Beat Estimates

(RTTNews) - Tech Data Corp. (TECD) announced earnings for its first quarter that climbed from the same period last year.

The company's profit came in at $55.40 million, or $1.49 per share. This compares with $33.70 million, or $0.87 per share, in last year's first quarter.

Excluding items, Tech Data Corp. reported adjusted earnings of $75.90 million or $2.04 per share for the period.

Analysts had expected the company to earn $1.97 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 1.6% to $8.41 billion from $8.55 billion last year.

Tech Data Corp. earnings at a glance:

-Earnings (Q1): $75.90 Mln. vs. $70.83 Mln. last year. -EPS (Q1): $2.04 vs. $1.84 last year. -Analysts Estimate: $1.97 -Revenue (Q1): $8.41 Bln vs. $8.55 Bln last year.

-Guidance: Next quarter EPS guidance: $2.15 - $2.45 Next quarter revenue guidance: $8.6 - $8.9 Bln