: Avnet’s stock rises 3% on earnings, revenue beats


Avnet Corp.’s AVT stock climbed 3% in extended trading Wednesday after the electronics company posted fiscal third-quarter results that easily exceeded analyst revenue and earnings estimates. Avnet reported net income of $187.4 million, or $2.03 a share, compared with net income of $183.4 million, or $1.84 a share, in the year-ago quarter. Adjusted earnings were $2.05 a share. Revenue was $6.52 billion, compared with $6.49 billion a year ago. Analysts surveyed by FactSet had expected on average net income of $1.79 a share on revenue of $6.31 billion. Shares of Avnet have dipped 2% so far this year, while the broader S&P…

This article was originally published by Marketwatch.com. Read the original article here.

Previous articleMarket Extra: Why stock-market bulls can’t celebrate as Fed hints at pause in rate hikes
Next articleKenvue to command valuation of more than $40 billion in biggest IPO since 2021


Please enter your comment!
Please enter your name here