12:54 PM EDT, 06/25/2024 (MT Newswires) -- (Updates to add latest stock move in the headline and the first paragraph.)

TD SYNNEX ( SNX ) shares fell more than 8% in recent Tuesday trading after reporting lower than estimated fiscal Q2 results.

Earlier, the company reported fiscal Q2 non-GAAP earnings of $2.73 per diluted share, up from $2.43 a year earlier.

Analysts polled by Capital IQ expected $2.82.

Revenue for the quarter ended May 31 was $13.95 billion, down from $14.06 billion a year earlier.

Analysts surveyed by Capital IQ expected $14.10 billion.

For fiscal Q3, the company said it expects non-GAAP EPS of $2.55 to $3.05. Analysts polled by Capital IQ expect $2.93. Revenue for the quarter is expected in the range of $13.30 billion to $14.90 billion. Analysts expect $14.52 billion.

Additionally, the company kept its quarterly dividend at $0.40 per share, payable July 26 to shareholders of record July 12.

Price: 118.51, Change: -10.83, Percent Change: -8.37