Ingram Micro's big bets on mobility appear to be paying off.
The world's largest IT distributor reported third-quarter revenue of $10.2 billion, up 12 percent year over year, behind a solid performance from its mobility business. Ingram Micro's earnings, meanwhile, jumped to $79 million or 50 cents a share from $53 million or 35 cents a share from the same period one year ago.
"Q3 was another successful quarter where we maintained the momentum of the second quarter," said Ingram Micro CEO Alain Monie during the earnings call.
In addition to strong demand for mobile products, Ingram Micro said it also received a boost from its Brightpoint mobility business, which the distributor acquired last year for $840 million. Brightpoint specializes in mobile device life-cycle services and solutions, which has become a key focus for Ingram Micro.
"The business is performing well," Monie said. "We're executing well on integrating the new mobility business."
Ingram Micro also reported its North American business grew 2 percent year-over-year with particular strength in storage and infrastructure products.
For the fourth quarter of 2013, Ingram Micro said it expects worldwide revenue to increase over its third-quarter sales in line with historical seasonality.
PUBLISHED OCT. 24, 2013