TD Synnex has announced its financial results for the fiscal first quarter that ended February 28, 2025.
Revenue was at $14.5 billion, an increase of 4.0 per cent from the prior fiscal first quarter. On a constant currency basis, revenue increased by 6.0 per cent compared to the prior fiscal first quarter.
Non-GAAP gross billings reached $20.7 billion, an increase of 7.5 per cent from the prior fiscal first quarter. On a constant currency basis, non-GAAP gross billings increased by 9.5 per cent compared to the prior fiscal first quarter.
TD Synnex also returned $138 million to stockholders in the form of $101 million of share repurchases and $37 million in dividends.
Patrick Zammit, CEO of TD Synnex, commented, “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.
“Gross billings in constant currency grew by 9.5 per cent year-over-year in Q1 with all regions and major technologies contributing.”
Zammit (pictured above, left) took over as CEO in September 2024 after a three-month handover period following a six-month stint as the company’s chief operating officer. He succeeded Rich Hume (pictured above, right), who retired after completing his tenure as CEO.
TD Synnex has also updated its current expectations for the fiscal second quarter, with the company expecting to achieve revenue of between $13.9 and $14.7 billion.