Avnet Reports Surge in Server and Storage Revenue

IT Jungle reports IT distributor Avnet is riding an upgrade cycle for servers and storage. Not unlike its rival Arrow Electronics, Avnet reports an increase in revenue this year. Net income for the seller of IT gear and electronic components rose by 31.9 percent, to $151 million and overall revenues for Avnet grew 13 percent.


“Roy Vallee, Avnet’s chairman and chief executive officer, said in a statement accompanying the financial results that Technology Solutions came in at the high end of expectations revenue-wise, with sequential declines from the prior fiscal second quarter (which roughly corresponds to calendar year end IT budgets) being lower than usual. The growth in the business was due primarily to server and storage sales, Vallee said.”

Read the Full Story at IT Jungle

Latest Articles

Top Data Center Virtualization Trends in 2022

Data centers have been virtualizing for years. And the process continues. It seems that as one level of virtualization hits maturity, it opens the...

5 Top Server Virtualization Trends in 2022

Server virtualization exploded almost two decades ago when VMware emerged. And it has come a long way. Windows boxes used to litter data center...

Top Storage Virtualization Trends in 2022

Storage virtualization has been a thing for decades. The early EMC storage arrays that lay at the heart of storage area networks (SANs) were...