By Elias Schisgall

Shares of Avnet rose after the company reported revenue growth in the fiscal second quarter, beating Wall Street expectations for adjusted earnings per share.

The stock was up 10.7% to $58.32 midday Wednesday. Shares have gained 11% over the past 12 months.

The electronic component and services company on Wednesday reported a second-quarter profit of $61.7 million, or 75 cents a share, compared with a profit of $87.3 million, or 99 cents a share, a year earlier.

On an adjusted basis, earnings were $1.05 a share. Analysts surveyed by FactSet were expecting 96 cents a share.

The company recorded revenue of $6.32 billion, up from $5.66 billion a year earlier.

The decline in profit was largely driven by an increase in income tax expenses to $28.2 million, up from $3 million a year earlier.

For the current third quarter, the company is projecting revenue between $6.2 billion and $6.5 billion and adjusted earnings of between $1.20 and $1.30 a share.

Write to Elias Schisgall at elias.schisgall@wsj.com

(END) Dow Jones Newswires

January 28, 2026 11:40 ET (16:40 GMT)

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