FREMONT, Calif. - TD (TSX:TD) SYNNEX Corporation (NYSE: NYSE:SNX) reported fourth quarter earnings that topped analyst expectations, sending shares up 0.88% in early trading.
The IT distribution and services company posted adjusted earnings per share of $3.09, exceeding the consensus estimate of $3.06. Revenue came in at $15.84 billion, surpassing analysts' projections of $15.25 billion.
TD SYNNEX's Q4 revenue rose 10% YoY, driven by growth in both its Advanced Solutions and Endpoint Solutions portfolios. Non-GAAP gross billings increased 7.4% to $21.2 billion.
"We delivered strong results this quarter, driven by our end-to-end portfolio, global reach and differentiated value proposition that enable us to capture a wide range of technology spend and grow our market presence," said Patrick Zammit, CEO of TD SYNNEX.
For the first quarter of fiscal 2025, the company expects revenue between $14.4 billion and $15.2 billion, compared to the $14.76 billion consensus. TD SYNNEX forecasts Q1 adjusted EPS of $2.65 to $3.15, versus analyst estimates of $2.95.
The company returned $750 million to shareholders in fiscal 2024 through $612 million in share repurchases and $138 million in dividends. TD SYNNEX also announced a 10% increase in its quarterly dividend to $0.44 per share.
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