Small, midsize businesses are 'much stronger' than large enterprise right now, Tech Data CEO says [MSNBC.com]
TECH DATA (TECD)
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Source: MSNBC.com
Small, midsize businesses are 'much stronger' than large enterprise right now, Tech Data CEO says The head of an IT products and services distributor told CNBC on Tuesday that small- and medium-sized businesses have not slowed down investing like larger corporations, and it's showing up in the company's results. "Anecdotally, we think SMB is much stronger than large enterprise [now] ... and we're taking advantage of that," Tech Data "Mad Money." The comments came on the same day that the Federal Reserve cut the benchmark interest rate. The policymaking Federal Open Market Committee noted that consumer spending is "rising at a strong pace," but "business fixed investment and exports have weakened." Despite that, Tech Data delivered a sales beat in its latest quarterly report, $9.09 billion versus an estimated $8.71 billion, and a profit of $2.69 per share. The company topped analyst forecasts in the Americas, Europe and Asia markets, according to FactSet. The Florida-based firm is one
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