TD SYNNEX, a global distributor of technology products and services, reported solid results for its fiscal second quarter, with both revenue and profit rising as the company saw growth across all major regions and technology categories.
For the quarter ending May 31, TD SYNNEX posted revenue of $14.95 billion, up 7.2% from $13.95 billion in the same period a year ago. Net income rose 29% to $184.9 million, compared to $143.6 million last year. Earnings per share increased 33% to $2.21 from $1.66.
The company said the performance was driven by continued demand for IT infrastructure, cloud solutions, cybersecurity offerings, and endpoint devices. TD SYNNEX serves as a key intermediary in the technology supply chain, connecting vendors such as Cisco, Microsoft, Lenovo, and other global brands with resellers, integrators, and service providers.
Growth was broad-based, with all geographic regions reporting higher sales. Revenue in the Americas rose 5.3% to $9.0 billion. In Europe, revenue increased 10.5% to $4.9 billion, while Asia-Pacific and Japan grew 8.7% to $1.0 billion.
Profitability also improved. Gross profit rose 7.5% to $1.05 billion, while operating income grew 24.3% to $328 million. The company’s operating margin — a measure of profit as a share of revenue — increased to 2.2%, up from 1.9% in the prior year.
CEO Patrick Zammit said the robust performance reflects balanced growth across the company’s business lines, including core IT distribution and higher-growth areas like cloud infrastructure and software services. He noted that the company benefited from steady demand from both commercial and public sector customers, as businesses continue to invest in digital transformation.
“Our results demonstrate the resilience of our business and the value we provide to customers and partners around the world,” Zammit said. “All major regions and technology categories contributed to our performance this quarter.”
TD SYNNEX, formed in 2021 through the merger of Tech Data and SYNNEX Corp., is a large technology distributor.
Looking ahead, TD SYNNEX said it remains focused on expanding its capabilities in high-growth areas such as cloud platforms, cybersecurity, AI-enabled software, and edge computing, while continuing to drive efficiently in its core distribution business.
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