Scansource tumbles on weak quarterly results

ScanSource

06/02/2024 15:06

** Shares of computer hardware company Scansource  SCSC.O 
fall as much as 4.24% to $37.08
    ** Scansource reports profit of 85 cents a share in Q2,
missing market estimates of 97 cents - LSEG data
    ** Co's Q2 net sales were $884.79 mln vs $943.8 mln a year
earlier 
    ** Quarterly net sales dropped due to lower sales volume in
communications hardware and soft demand in barcode​ 
    ** Co sees net sales of at least $3.50 bln in FY 2024,
compared with analyst estimates of $3.74 bln - LSEG data
    ** SCSC down ~7% YTD 
    

 (Reporting by Atharva Singh in Bengaluru)
 ((atharva.singh@thomsonreuters.com))