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May 31, 2025
TD Synnex Q2 2025 Earnings Report
TD SYNNEX posted strong Q2 results with revenue and EPS exceeding guidance.
Key Takeaways
TD SYNNEX delivered solid performance in Q2 FY25 with revenue of $14.9B and non-GAAP EPS surpassing the high end of guidance, driven by double-digit growth in gross billings and broad-based regional strength.
Non-GAAP gross billings reached $21.6B, up 12.1% YoY
GAAP net income grew to $184.9M from $143.6M YoY
Free cash flow came in at $542.9M, up from a loss last year
Dividend increased 10% YoY to $0.44 per share
Revenue by Geographic Location
Forward Guidance
TD SYNNEX anticipates Q3 FY25 revenue between $14.7B and $15.5B with non-GAAP EPS ranging from $2.75 to $3.25.
Positive Outlook
- Expected revenue up to $15.5B indicates continued top-line growth
- Non-GAAP gross billings outlook of up to $22.0B
- Non-GAAP EPS projected to reach as high as $3.25
- Resilient demand across all major technology portfolios
- Increased dividend signals financial confidence
Challenges Ahead
- Wide EPS range ($2.75 - $3.25) signals uncertainty
- Macroeconomic factors could impact IT spending
- High dependence on supplier contracts and SaaS arrangements
- Cash balance declined from previous quarter
- Continued margin pressures in Europe segment
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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