Tech Data Corp. Q2 adjusted earnings Miss Estimates

(RTTNews) - Tech Data Corp. (TECD) announced earnings for its second quarter that advanced from last year.

The company's profit came in at $75.87 million, or $1.97 per share. This compares with $47.46 million, or $1.24 per share, in last year's second quarter.

Excluding items, Tech Data Corp. reported adjusted earnings of $77.68 million or $2.01 per share for the period.

Analysts had expected the company to earn $2.11 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 9.9% to $8.89 billion from $8.09 billion last year.

Tech Data Corp. earnings at a glance:

-Earnings (Q2): $77.68 Mln. vs. $66.73 Mln. last year. -EPS (Q2): $2.01 vs. $1.74 last year. -Analysts Estimate: $2.11 -Revenue (Q2): $8.89 Bln vs. $8.09 Bln last year.

-Guidance: Next quarter EPS guidance: $2.00 - $2.30 Next quarter revenue guidance: $8.7 - $9.0 Bln