Companies /Technology

TD Synnex Corp

NYSE: SNX Electronics & Computer Distribution
$255.13
▼ $5.00 (−1.92%) today
Markets open · 2:27pm ET

Q2 2025 Earnings

Reported Jun 24, 2025, 8:03am ET · SEC source
$2.99
Beat +8.93%
EPS · est. $2.75
$14.9B
Beat +4.41%
Revenue · est. $14.3B
+2.4%
Beating market
SNX vs S&P since report
5 quarters
Consecutive EPS beats

Market Reaction

% change · around the report
−3%0+3%+6%Jun 24Jun 25report 8:03am ETearnings+0.2%+5.4%
−3%0+3%+6%Jun 24Jun 25earnings+0.2%+5.4%
SNX +5.4%S&P 500 +0.2%
−3%0+3%+6%Jun 24Jun 25report 8:03am ETearnings+0.5%+5.4%
−3%0+3%+6%Jun 24Jun 25earnings+0.5%+5.4%
SNX +5.4%NASDAQ +0.5%
0+5%+10%Jun 23Jul 2report 8:03am ETearnings+2.1%+10.7%
0+5%+10%Jun 23Jul 2earnings+2.1%+10.7%
SNX +10.7%S&P 500 +2.1%
0+5%+10%Jun 23Jul 2report 8:03am ETearnings+2.0%+10.7%
0+5%+10%Jun 23Jul 2earnings+2.0%+10.7%
SNX +10.7%NASDAQ +2.0%
+7.27%
Day of report
+0.66%
Next session
−0.77%
One week
+7.36%
30 days

S&P 500 over the same 30 days: +5.00%.

Did SNX Beat Earnings? Q2 2025 Results

TD SYNNEX delivered a broad-based beat in its fiscal second quarter of 2025, with revenue of $14.95 billion rising 7.2% year over year and clearing the $14.32 billion consensus by 4.41%, while non-GAAP diluted EPS of $2.99 topped the $2.75 analyst estimate by 8.93%. The standout driver was a surge in non-GAAP gross billings to $21.65 billion, up 12.1% year over year, reflecting strength across software, cloud, cybersecurity, and a PC refresh cycle that lifted all three geographic segments; Americas contributed $9.01 billion, Europe $4.89 billion, and APJ $1.05 billion. Free cash flow swung sharply positive to $542.94 million from negative $152.53 million a year earlier, and the company returned $186 million to shareholders through buybacks and dividends. Despite the strong print, management adopted a measured tone on the outlook, citing macroeconomic uncertainty and potential trade headwinds, guiding fiscal Q3 non-GAAP EPS of $2.75 to $3.25 on revenue of $14.70 billion to $15.50 billion.

Key Takeaways
  • Growth in both Endpoint Solutions and Advanced Solutions portfolios
  • Strength in IT Distribution and Hyperscaler markets
  • All regions and major technologies contributing to growth
  • Non-GAAP gross billings grew 12.1% year over year driven by double-digit growth
  • Greater percentage of sales presented on a net basis due to mix of products sold
  • Sharp reduction in acquisition, integration and restructuring costs from $37.9 million to $0.7 million

“Our Q2 results demonstrate the continued strength of the IT Distribution and Hyperscaler markets, meanwhile, our strategy and the execution of our team are enabling us to grow ahead of market”

TD SYNNEX CEO, on the earnings call

Forward Guidance & Outlook

For fiscal Q3 2025 (three months ending August 31, 2025), TD SYNNEX guided revenue of $14.7 billion to $15.5 billion, non-GAAP gross billings of $21.0 billion to $22.0 billion, GAAP net income of $159 million to $200 million, non-GAAP net income of $227 million to $268 million, GAAP diluted EPS of $1.93 to $2.43, and non-GAAP diluted EPS of $2.75 to $3.25, based on estimated outstanding diluted weighted average shares of 81.8 million.

SNX YoY Financials

Q2 2025 vs Q2 2024 · SEC filings Q2 2024 Q2 2025
$0$5.0B$10.0B$15.0B$13.9B$14.9BRevenue$866.9M$1.0BGross Profit$301.5M$328.1MOperating Income$143.6M$184.9MNet Income
$0$5.0B$10.0B$15.0BRevenueGross ProfitOperating IncomeNet Income

SNX Revenue by Geography

Americas$9.0B+5.3%
Europe$4.9B+10.5%
Asia Pacific$1.0B+8.7%

Figures from SEC filings and company reports. Not investment advice.