Avnet, Inc. shares rise 3.05% premarket after reporting Q4 earnings with revenue of $5.62 billion, exceeding expectations.

Avnet, Inc. rose 3.05% in premarket trading, with the company reporting its fourth-quarter earnings results. Avnet, Inc. reported fourth-quarter sales of $5.6 billion and diluted EPS of $0.07, with adjusted diluted EPS of $0.81. The company also reported a fiscal fourth-quarter profit of $6.1 million, or 7 cents per share, with earnings adjusted for one-time gains and costs coming to 81 cents per share. The results surpassed Wall Street expectations, with the average estimate of four analysts surveyed by Zacks Investment Research being for earnings of 72 cents per share.