TD SYNNEX posts third consecutive fiscal quarter of growth

Revenues for the distributor climbed four per cent to $14.5bn in its fiscal Q1 2025 results

Distribution powerhouse TD SYNNEX today published a fresh set of financial results showing off its growth streak.

Revenues grew four per cent in its fiscal first quarter 2025 to $14.5bn.

The distie attributed the increase to success in both its endpoint solutions and advanced solutions portfolios.

However, it added that a greater percentage of sales were presented on a net basis, which negatively impacted revenue compared to the prior fiscal first quarter by approximately four per cent.

The NYSE-listed business last month made a major appointment to its advanced solutions arm by naming Andy Brown as senior business unit director of data and applications in the UK and Ireland, taking responsibility for TD SYNNEX's destination AI strategy.

Non-GAAP net income dipped 10.8 per cent to $237.4m from $266.2m.

“The strength of our business model allowed us to grow ahead of the market in Q1. Our end-to-end strategy, global reach and specialist go to market approach continues to empower us to capture a wide range of IT spend,” said TD SYNNEX CEO Patrick Zammit.

“Gross billings in constant currency grew by 9.5 per cent year-over-year in Q1 with all regions and major technologies contributing.”

Breaking down the results regionally, revenues in Europe saw a minor uptick of 0.4 per cent to $5.1bn.

These results show a third consecutive fiscal quarter of growth for TD SYNNEX following successful Q3 and Q4 2024 figures.

Fiscal Q2 2025 outlook

TD SYNNEX expects fiscal 2025 second quarter revenues in the range of $13.9bn to $14.7bn.

While non-GAAP net income is predicted to fall between $205m to $247m.