For the quarter ended June 2024, Avnet (AVT Quick QuoteAVT - Free Report) reported revenue of $5.56 billion, down 15.1% over the same period last year. EPS came in at $1.22, compared to $2.06 in the year-ago quarter.

The reported revenue represents a surprise of +3.75% over the Zacks Consensus Estimate of $5.36 billion. With the consensus EPS estimate being $0.95, the EPS surprise was +28.42%.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how Avnet performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

• Sales- Farnell

  : $375.20 million versus $368.32 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -15.8% change.

• Sales- Electronic Components

  : $5.19 billion compared to the $5.08 billion average estimate based on three analysts. The reported number represents a change of -15.1% year over year.

• Operating Income (loss)- Farnell

  : $15.10 million compared to the $15.67 million average estimate based on two analysts.

• Operating Income (loss)- Electronic Components

  : $210.10 million versus $190.98 million estimated by two analysts on average.

View all Key Company Metrics for Avnet here>>>

Shares of Avnet have returned -3.3% over the past month versus the Zacks S&P 500 composite's -6.5% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.