Why SYNNEX (SNX) Stock Is Lower in After-Hours Trading

NEW YORK (TheStreet) -- Shares of SYNNEX Corp  (SNX) are down -1.33% to $72.95 in after-hours trading on Wednesday after it guided third quarter results below analysts estimates.

The company expects revenue of $3.3 billion to $3.4 billion and adjusted earnings of of $1.45 to $1.50 per share, while analysts surveyed by Thompson Reuters currently expect the company to earn $1.53 per share on revenue of $3.29 billion for the third quarter.

However, SYNNEX reported second quarter net income of $39.6 million or $1.01 per diluted share, compared to $30.8 million or 81 cents per diluted share in the same period a year ago.

Second quarter revenue rose to $3.4 billion, up from its outlook given last April, which was a range of of $3.1 billion to $3.2 billion, and higher than the consensus estimate of $3.17 billion.

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