Wednesday, May 23, 2018
Business

Tech Data second quarter beats expectations

Tech Data Corp., Tampa Bay's biggest public company by revenue, beat analysts' expectations for both sales and profit in its fiscal second quarter.

The Clearwater-based computer products reseller said Tuesday that net sales rose 8 percent to $6.8 billion for the quarter ended July 31. The growth was driven in large part by Europe, which accounts for about 60 percent of global sales.

Net income for the quarter more than doubled to $39.3 million, or $1.03 per diluted share, up from $14.7 million, or 38 cents per diluted share, in the year-ago period.

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Published: 05/22/18