Tech Data Corp. Q3 adjusted earnings Beat Estimates

(RTTNews) - Tech Data Corp. (TECD) released earnings for its third quarter that increased from last year.

The company's earnings totaled $114.2 million, or $2.96 per share. This compares with $37.3 million, or $0.97 per share, in last year's third quarter.

Excluding items, Tech Data Corp. reported adjusted earnings of $116.3 million or $3.02 per share for the period.

Analysts had expected the company to earn $2.17 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 10.5% to $9.34 billion from $8.45 billion last year.

Tech Data Corp. earnings at a glance:

-Earnings (Q3): $116.3 Mln. vs. $76.7 Mln. last year. -EPS (Q3): $3.02 vs. $2.00 last year. -Analysts Estimate: $2.17 -Revenue (Q3): $9.34 Bln vs. $8.45 Bln last year.

-Guidance: Next quarter EPS guidance: $3.90 - $4.20 Next quarter revenue guidance: $10.5 - $10.9 Bln