Shares of SYNNEX Corp. (NYSE: SNX) surged on Wednesday after the business process services provider reported its fiscal third-quarter results. SYNNEX beat analyst estimates for both revenue and earnings by wide margins, and its guidance compared favorably to expectations. The stock was up about 19.7% at 12:15 p.m. EDT.
SYNNEX reported third-quarter revenue of $6.2 billion, up 28.6% year over year and $510 million higher than the average analyst estimate. Technology solutions revenue was up 16.5% to $5.0 billion, while Concentrix revenue jumped 136% to $1.2 billion.
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