Avnet (AVT) shares surged 5.24% during intraday trading on Wednesday, after the global technology distributor reported fiscal fourth-quarter results that handily beat Wall Street expectations.

The company posted adjusted earnings per share of $2.28, crushing the consensus estimate of $1.77. Revenue climbed 47.7% year-over-year to $8.30 billion, well above the $7.52 billion analysts had forecast. The strong performance was driven by improved demand across all regions, end markets, and customer segments, with both the Electronic Components and Farnell segments delivering record sales and expanded operating margins.

Adding to the positive momentum, Avnet issued an upbeat outlook for the fiscal first quarter, projecting sales of $9.00 billion to $9.30 billion and adjusted diluted EPS of $2.80 to $2.90, both comfortably ahead of consensus estimates. The combination of the earnings beat and strong guidance reignited buying interest in the stock.