Investing.com - ScanSource (NASDAQ:SCSC) reported on Tuesday first quarter earnings that beat analysts' forecasts and revenue that topped expectations.
ScanSource announced earnings per share of $1.07 on revenue of $943.81M. Analysts polled by Investing.com anticipated EPS of $1.04 on revenue of $910.2M.
ScanSource shares are down 41.36% from the beginning of the year, still down 24.72% from its 52 week high of $41.01 set on May 17.
ScanSource shares lost 2.56% in intra-day trade following the report.
ScanSource follows other major Information Technology sector earnings this month
ScanSource's report follows an earnings beat by Apple on October 27, who reported EPS of $1.29 on revenue of $90.1B, compared to forecasts EPS of $1.26 on revenue of $88.76B.
Microsoft had beat expectations on October 25 with first quarter EPS of $2.35 on revenue of $50.1B, compared to forecast for EPS of $2.32 on revenue of $49.86B.
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