Avnet stock jumps 11% after Q2 earnings beat and upbeat outlook lifts AVT price
Avnet shares jumped 11% to $58.65 by early afternoon Wednesday after quarterly earnings and a third-quarter forecast topped Wall Street estimates. The company reported fiscal Q2 sales of $6.319 billion and adjusted EPS of $1.05, beating analyst expectations. Arrow Electronics and TD SYNNEX also rose. Avnet projected Q3 sales of $6.20–$6.50 billion and adjusted EPS of $1.20–$1.30.