Avnet: Fiscal Q4 Earnings Snapshot

Avnet Inc. reported fiscal fourth-quarter net income of $126.6 million with adjusted earnings of $2.28 per share, exceeding Wall Street expectations. The company generated $8.3 billion in revenue for the quarter and $27.63 billion annually, while its stock has risen 92% since the start of the year. Avnet projects current-quarter earnings between $2.80 and $2.90 per share.