IRVINE, Calif. (AP) — IRVINE, Calif. (AP) — Ingram Micro Holding Corp. (INGM) on Thursday reported first-quarter profit of $98.9 million.
On a per-share basis, the Irvine, California-based company said it had net income of 42 cents. Earnings, adjusted for one-time gains and costs, were 75 cents per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 70 cents per share.
The provider of information technology products and services posted revenue of $13.96 billion in the period, also topping Street forecasts. Four analysts surveyed by Zacks expected $12.69 billion.
For the current quarter ending in June, Ingram Micro expects its per-share earnings to range from 68 cents to 78 cents.
The company said it expects revenue in the range of $13.6 billion to $14 billion for the fiscal second quarter.
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