Stock Track | Avnet Shares Soar 5% as Q1 Earnings Beat Drives Optimism

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Avnet Inc. (NASDAQ:AVT) saw its shares surge 5.29% on Monday after reporting better-than-expected financial results for the first quarter of fiscal 2025, driven by strong performance in the Asia region.

The technology distributor and solutions provider reported adjusted earnings per share of $0.92, surpassing analysts' estimates of $0.85. Revenue for the quarter came in at $5.6 billion, slightly above the consensus estimate of $5.43 billion, despite an 11.6% year-over-year decline due to uneven market conditions.

Avnet's Chief Executive Officer Phil Gallagher attributed the earnings beat to the company's return to growth in Asia, offsetting weakness in other regions. The company's focus on improving the profitability of its Farnell business also contributed to the positive results.

While acknowledging the challenges posed by the current market environment, Gallagher expressed confidence in Avnet's ability to capitalize on profitable growth opportunities as conditions recover, thanks to the team's effective execution and strong relationships with customers and suppliers.

Looking ahead, Avnet provided guidance for the second quarter of fiscal 2025, projecting adjusted diluted earnings per share in the range of $0.80 to $0.90 and revenue between $5.4 billion and $5.7 billion. The company's positive forward guidance, coupled with its better-than-expected Q1 performance, fueled investor optimism, driving the stock's 5% surge on the day.

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(NASDAQ:AVT) saw its shares surge 5.29% on Monday after reporting better-than-expected financial results for the first quarter of fiscal 2025, driven by strong performance in the Asia ...</p>\n\n<a href=\"\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"AVT","symbol_name":"安富利电子","start_time":0,"source_url":"","article_id":"1125882002","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1125882002","pubTimestamp":1730295356,"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Avnet Inc.  saw its shares surge 5.29% on Monday after reporting better-than-expected financial results for the first quarter of fiscal 2025, driven by strong performance in the Asia region.The technology distributor and solutions provider reported adjusted earnings per share of $0.92, surpassing analysts' estimates of $0.85. 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