TD SYNNEX Corporation ( (SNX) ) has released its Q1 earnings. Here is a breakdown of the information TD SYNNEX Corporation presented to its investors.
TD SYNNEX Corporation is a global distributor and solutions aggregator for the IT ecosystem, providing technology products, services, and solutions to over 150,000 customers in more than 100 countries. The company operates in high-growth technology segments such as cloud, cybersecurity, big data/analytics, AI, IoT, and everything as a service.
In its fiscal 2025 first quarter earnings report, TD SYNNEX reported a revenue increase of 4% year-over-year, reaching $14.5 billion. The company also announced non-GAAP gross billings of $20.7 billion, marking a 7.5% increase from the previous year. Despite a slight decline in gross profit and operating income, the company maintained a strong position in the market.
Key financial highlights include a diluted EPS of $1.98 and a non-GAAP diluted EPS of $2.80. The company returned $138 million to shareholders through share repurchases and dividends, and announced a 10% increase in its quarterly cash dividend to $0.44 per share. Regionally, the Americas saw a 6.2% revenue increase, while Europe and Asia-Pacific experienced more modest growth.
TD SYNNEX faced challenges such as a decrease in gross margin and operating margin, attributed to a higher percentage of sales presented on a net basis and changes in product mix. However, the company’s strategic focus on expanding its endpoint and advanced solutions portfolios contributed to its overall revenue growth.
Looking ahead, TD SYNNEX remains optimistic about its growth prospects, with a revenue outlook for the second quarter of fiscal 2025 ranging from $13.9 billion to $14.7 billion. The company continues to leverage its global reach and specialist market approach to capture a wide range of IT spending opportunities.