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Ingram Micro (IM) Stock Gains on Earnings Beat

NEW YORK (TheStreet) -- Shares of Ingram Micro (IM - Get Report) were gaining 4.3% to $29.80 on Friday after the technology wholesaler beat analysts' estimates for earnings in the third quarter.

On Thursday, Ingram Micro reported earnings of 67 cents a share for the third quarter, beating analysts' estimates of 63 cents a share for the quarter. Revenue fell 6.3% year over year to $10.52 billion for the quarter, compared to analysts' estimates of $10.73 billion for the quarter.

"We had a great quarter, reflecting continued execution on our strategy," CEO Alain Monie said in a statement. "We drove strong operating leverage while...