Companies /Technology

TD Synnex Corp

NYSE: SNX Electronics & Computer Distribution
$253.97
▼ $6.16 (−2.37%) today
Markets closed · 8:26pm ET

Q3 2025 Earnings

Reported Sep 25, 2025, 6:03am ET · SEC source
$3.58
Beat +17.53%
EPS · est. $3.05
$15.7B
Beat +3.57%
Revenue · est. $15.1B
−7.0%
Trailing market
SNX vs S&P since report
5 quarters
Consecutive EPS beats

Market Reaction

% change · around the report
−4%0+4%Sep 25Sep 26report 6:03am ETearnings−0.3%+5.1%
−4%0+4%Sep 25Sep 26earnings−0.3%+5.1%
SNX +5.1%S&P 500 −0.3%
−4%0+4%Sep 25Sep 26report 6:03am ETearnings−0.4%+5.1%
−4%0+4%Sep 25Sep 26earnings−0.4%+5.1%
SNX +5.1%NASDAQ −0.4%
0+5%+10%Sep 24Oct 2report 6:03am ETearnings+1.3%+9.5%
0+5%+10%Sep 24Oct 2earnings+1.3%+9.5%
SNX +9.5%S&P 500 +1.3%
0+5%+10%Sep 24Oct 2report 6:03am ETearnings+1.8%+9.5%
0+5%+10%Sep 24Oct 2earnings+1.8%+9.5%
SNX +9.5%NASDAQ +1.8%
+6.22%
Day of report
+3.01%
Next session
+2.71%
One week
−2.89%
30 days

S&P 500 over the same 30 days: +4.13%.

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 $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

“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.”

TD SYNNEX CEO, on the earnings call

Forward Guidance & Outlook

For fiscal Q4 2025 (three months ending November 30, 2025), TD SYNNEX expects: revenue of $16.5–$17.3 billion; non-GAAP gross billings of $23.0–$24.0 billion; net income of $204–$245 million; non-GAAP net income of $281–$322 million; GAAP diluted EPS of $2.50–$3.00; non-GAAP diluted EPS of $3.45–$3.95; and estimated outstanding diluted weighted average shares of 80.7 million.

SNX YoY Financials

Q3 2025 vs Q3 2024 · SEC filings Q3 2024 Q3 2025
$0$5.0B$10.0B$15.0B$14.7B$15.7BRevenue$868.6M$1.1BGross Profit$309.2M$383.7MOperating Income$178.6M$226.8MNet Income
$0$5.0B$10.0B$15.0BRevenueGross ProfitOperating IncomeNet Income

SNX Revenue by Geography

Americas$9.3B+2.0%
Europe$5.2B+12.7%
Asia Pacific$1.2B+20.4%

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