Avnet: Fiscal Q3 Earnings Snapshot
By AP News
Published - May 03, 2023, 05:42 PM ET
Last Updated - Jun 21, 2023, 11:11 PM EDT
PHOENIX (AP) — PHOENIX (AP) — Avnet Inc. (AVT) on Wednesday reported fiscal third-quarter net income of $187.4 million.
On a per-share basis, the Phoenix-based company said it had net income of $2.03. Earnings, adjusted for pretax gains, came to $2 per share.
The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.78 per share.
The distributor of electronic components posted revenue of $6.51 billion in the period, also topping Street forecasts. Five analysts surveyed by Zacks expected $6.27 billion.
