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Tech Data Corp. Q1 adjusted earnings Beat Estimates

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.

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

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