RTTNews | Sep 28, 2021 11:52AM EDT

11:52 Tuesday, September 28, 2021 (RTTNews.com) - California-based technology company, TD SYNNEX (SNX), is trading 7% lower hurt largely by its third-quarter results. The other day, the company reported a lower profit and revenue for the quarter. The company also dropped to a six-month low during the trade.

TD Synnex reported a net income of $94.70 million or $1.81 earnings per share, down from $134.46 million or $2.60 earnings per share in the last year. On an adjusted basis, the income was $111.97 million or $2.14 earnings per share, down from $97.22 million or $1.88 earnings last year. Revenue for the company dropped to $5.20 billion from $5.30 billion last year. The revenue forecast for the fourth quarter is $15 billion to $16 billion with a net income in the range of $38 million or $0.39 earnings per share to $106 million or $1.09 earnings per share. On an adjusted basis, the net income is expected to be in the range of $242 million or $2.50 earnings per share to $272 million or $2.80 per share for the next quarter. he shares of the company are currently trading at $104.02, down $9.23 or 8.15% from their previous close at $113.25. The stock opened at $105.00 in the morning and in the 52-week period, the shares have ranged between $64.50 and $130.93 per share.

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