(Updates with the latest stock price movement in the headline and the first paragraph.)
TD Synnex (SNX) shares fell more than 11% in Thursday trading despite posting better-than-expected fiscal Q3 results and Q4 guidance.
The company reported fiscal Q3 non-GAAP earnings Thursday of $5.68 per diluted share, up from $3.58 a year earlier.
Analysts polled by FactSet expected $4.70.
Revenue for the quarter ended Aug. 31 was $21.56 billion, up from $15.65 billion a year earlier.
Analysts expected $18.91 billion.
For fiscal Q4, the company expects non-GAAP EPS of $5.65 to $6.15, and revenue of $21.8 billion to $22.6 billion.
Analysts expect non-GAAP EPS of $4.87 and revenue of $19.44 billion.
Price: $255.16, Change: $-32.73, Percent Change: -11.37%