TD SYNNEX Q2 Gross Billings Soar Double Digits

TD SYNNEX Corp. SNX shares traded higher on Tuesday after the company reported its second-quarter 2025 results.

Quarterly revenue rose 7.2% year over year (yoy) to $14.95 billion, topping the high end of the company's guidance and beating analysts' estimate of $14.32 billion.

On a constant currency basis, revenue rose 6.3%, led by growth in Endpoint and Advanced Solutions. A shift in product mix reduced reported revenue by about 5% year over year.

Also Read: Top Wall Street Forecasters Revamp TD Synnex Expectations Ahead Of Q2 Earnings

Americas revenue grew 5.3% to $9.0 billion; gross billings rose 9% to $13.3 billion. Operating income hit $253 million with a 2.8% margin.

Europe revenue rose 10.5% to $4.9 billion, with gross billings up 16.7% to $6.8 billion. Operating income reached $50 million with a 1.0% margin.

Asia-Pacific and Japan revenue grew 8.7% to $1.0 billion, with gross billings up 22% to $1.5 billion. Operating income was $25 million with a 2.4% margin.

Non-GAAP gross billings rose 12.1% yoy to $21.6 billion, exceeding the high end of the company's outlook. On a constant currency basis, gross billings increased 11.3%.

Gross profit reached $1.05 billion, up from $974 million, with gross margin steady at 7.0%, helped by a 31-basis-point lift from product mix.

Operating income was $328 million, compared to $264 million, while non-GAAP operating income totaled $414 million versus $388 million. The operating margin improved to 2.2% from 1.9%, while the non-GAAP operating margin remained at 2.8%.

The Fremont, California-based company reported an adjusted EPS of $2.99, topping the street view of $2.72.

Operating cash flow totaled $573 million, up from a $115 million outflow last year. Free cash flow reached $543 million, compared to a negative $153 million. Shareholder returns were $186 million, down from $288 million.

TD SYNNEX's Board of Directors declared a quarterly cash dividend of 44 cents per share, payable on July 25, 2025, to stockholders of record as of the close of business on July 11, 2025.

Outlook

TD SYNNEX expects third-quarter adjusted EPS of $2.75-$3.25, compared to the estimate of $2.96.

The company projects revenue of $14.7 billion to $15.5 billion versus the estimated $15.02 billion. Additionally, gross billings are projected to be between $21 billion and $22 billion.

Price Action: SNX shares were trading higher by 4.35% to $133.15 at last check Tuesday.

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