SYNNEX (SNX) Stock Declining in After-Hours Trading Following Earnings Results

NEW YORK (TheStreet) -- Shares of SYNNEX Corp. (SNX) are down by 10.06% to $73.99 in after-hours trading on Thursday following the release of the company's 2015 second quarter earnings results.

The business process services company reported a year-over-year rise in earnings per share and a decline in revenue for the most recent quarter. SYNNEX also guided below expectations for the third quarter. 

SYNNEX said its non-GAAP net income was $1.55 per share, a 3.3% rise over the $1.50 per share reported for the 2014 second quarter.

Revenue for the latest quarter fell by 5.8% year-over-year to $3.25 billion from $3.45 billion.

Analysts were expecting SYNNEX to report earnings of $1.53 on revenue of $3.42 billion for the quarter ended May 2015.

For the third quarter the company said it expects its non-GAAP earnings to be in a range between $1.40 per share and $1.45 per share. Analysts are expecting earnings of $1.67 per share.

Separately, TheStreet Ratings team rates SYNNEX CORP as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:

"We rate SYNNEX CORP (SNX) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, impressive record of earnings per share growth, attractive valuation levels and good cash flow from operations. We feel its strengths outweigh the fact that the company shows low profit margins."

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