Avnet (NASDAQ:AVT) reported its Q2 earnings results on Wednesday, January 26, 2022 at 04:05 PM.
Here's what investors need to know about the announcement.
Earnings
Avnet beat estimated earnings by 18.9%, reporting an EPS of $1.51 versus an estimate of $1.27, which surprised analysts.
Revenue was up $1.20 billion from the same period last year.
Past Earnings Performance
Last quarter the company beat on EPS by $0.14, which was followed by a 2.12% increase in the share price the next day.
Here's a look at Avnet's past performance:
| Quarter | Q1 2022 | Q4 2021 | Q3 2021 | Q2 2021 |
|---|---|---|---|---|
| EPS Estimate | 1.08 | 0.79 | 0.56 | 0.39 |
| EPS Actual | 1.22 | 1.12 | 0.74 | 0.48 |
| Revenue Estimate | 5.29B | 5.00B | 4.59B | 4.27B |
| Revenue Actual | 5.58B | 5.23B | 4.92B | 4.67B |
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
Guidance
Avnet management provided guidance for their next quarter, expecting earnings between $1.45 and $1.55 per share for the next quarter.
This represents a -0.66% in quarter-over-quarter growth for Avnet, a bearish signal to many investors.
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This article was generated by Benzinga's automated content engine and reviewed by an editor.
