Shares of ScanSource (NASDAQ: SCSC) rocketed higher on Wednesday morning after the company released a strong fourth-quarter earnings report. The stock was up as much as 19.5% on the news, and as of 11:54 a.m. EDT, shares are up 19.4% for the day.
After the close on Tuesday, ScanSource released its fourth-quarter and full-year earnings report. Revenue in Q4 was up 34% year over year to $852.7 million, while operating income according to generally accepted accounting principles ( GAAP ) came in at $23.3 million. For the full year, which encompasses the 12 months ending June 30, ScanSource's revenue was up 3.4% year over year to $3.2 billion and the company had a GAAP net income of $45.4 million.
Image source: Getty Images.
For further details see:
Why ScanSource Stock Rocketed Higher on Wednesday