Tech Data Corporation announced its financial results for the first quarter ended April 30, 2018. Net sales for Q1 2018 were $8.5 billion, an increase of 22%, compared to $7.0 billion in Q1 2017. The increase in net sales was primarily driven by changes in foreign currency exchange rates and an additional month of Technology Solutions sales. Net income for Q1 2018 was $33.7 billion, an increase of 10%, compared to $30.7 million in Q1 2017.
Looking forward to business outlook for second quarter, net sales are expected to be in the range of $8.6 billion to $8.9 billion.
