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TD SYNNEX Corporation (SNX) Stock Surges on Strong Q2 Earnings and Cash Flow Performance
TD SYNNEX Corporation (SNX) Stock Surges on Strong Q2 Earnings and Cash Flow Performance
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BTCCSquare news:
TD SYNNEX Corporation (NYSE: SNX) saw its stock climb 7.27% to $136.88 following a robust second-quarter earnings report. The IT distributor reported $21.6 billion in gross billings, marking a 12% year-over-year increase, while revenue ROSE 7.2% to $14.9 billion. Both metrics surpassed the high end of guidance, driven by growth in cloud, cybersecurity, and infrastructure software segments.
Non-GAAP earnings per share reached $2.99, exceeding expectations, with net income totaling $251 million. Free cash FLOW stood at $543 million, enabling $186 million in shareholder returns via buybacks and dividends. Despite strong performance, the company remains cautious due to global trade uncertainties and foreign exchange pressures on margins.
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