Avnet Q2 earnings preview: Revenue growth expected to accelerate

Avnet (NASDAQGS:AVT) will report its Q2 results Wednesday before market open, with analysts expecting revenue growth of 33.6% year on year, improving from flat revenue in the same quarter last year. The company beat revenue expectations last quarter, reporting $7.12 billion, up 33.9% year on year, and also exceeded EPS and revenue guidance estimates. Analysts have generally reconfirmed their forecasts over the last 30 days, indicating expectations of steady performance. Avnet shares have risen 7.8% over the past month, outpacing the average 5.3% gain in its IT distribution segment. Peers TD SYNNEX and Connection recently reported strong results, with revenue growth of 31% and 12.4%, respectively, both beating estimates.