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TD SYNNEX

TD SYNNEX (SNX) Q3 2025 Earnings

Reported Sep 25, 2025 at 6:03 AM ET · SEC Source

Q3 25 EPS

$3.58

BEAT +17.53%

Est. $3.05

Q3 25 Revenue

$15.65B

BEAT +3.57%

Est. $15.11B

vs S&P Since Q3 25

+70.5%

BEATING MARKET

SNX +84.1% vs S&P +13.5%

Market Reaction

Did SNX Beat Earnings? Q3 2025 Results

TD SYNNEX posted a strong fiscal third quarter, beating Wall Street's expectations on both the top and bottom lines as demand across its technology distribution portfolios accelerated. The company reported non-GAAP diluted EPS of $3.58, ahead of the … Read more TD SYNNEX posted a strong fiscal third quarter, beating Wall Street's expectations on both the top and bottom lines as demand across its technology distribution portfolios accelerated. The company reported non-GAAP diluted EPS of $3.58, ahead of the $3.05 consensus estimate by 17.53%, while revenue climbed 6.6% year over year to $15.65 billion, topping the $15.11 billion consensus by 3.57%. A key driver of the outperformance was broad-based growth across both its Advanced Solutions and Endpoint Solutions segments, with Europe leading reported regional gains at 12.7% and Asia-Pacific and Japan rising 20.4%. Notably, a shift toward net-basis revenue presentation dampened reported revenue by roughly 5% relative to the prior year, meaning underlying business volume, reflected in non-GAAP gross billings of $22.73 billion, up 12.1% year over year, tells a stronger story. Looking ahead, management guided fiscal Q4 revenue of $16.50 to $17.30 billion and non-GAAP diluted EPS of $3.45 to $3.95, signaling continued confidence in demand trends heading into the holiday quarter.

Key Takeaways

  • • Growth in both Advanced Solutions and Endpoint Solutions portfolios
  • • Strong execution and differentiated go-to-market strategy
  • • Global end-to-end portfolio of products and services
  • • Gross margin expansion of 68 bps driven partly by net revenue presentation mix shift
  • • Non-GAAP gross billings growth of 12.1% year over year (10.1% constant currency)
  • • APJ region delivered 20.4% revenue growth and 29.7% non-GAAP gross billings growth
24/7 Wall St

SNX YoY Financials

Q3 2025 vs Q3 2024, source: SEC Filings

24/7 Wall St

SNX Revenue by Geography

With YoY comparisons, source: SEC Filings

Q2 25 Q4 25

“Our third quarter non-GAAP gross billings and diluted earnings per share established new records for our company. Our performance is a clear result of our teams' strong execution, a differentiated go-to-market strategy, and a global, end-to-end portfolio of products and services that is unrivaled.”

— Patrick Zammit, Q3 2025 Earnings Press Release

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