TD SYNNEX revenue rises 37.7% to $21.6 billion in fiscal third quarter
Image: Primary TD SYNNEX reported fiscal third-quarter revenue of $21.6 billion, up 37.7% from a year earlier, as its Distribution and Hyve Solutions businesses benefited from demand for technology infrastructure. Hyve designs and manufactures computing systems for cloud and accelerated workloads. The company posted $416 million in GAAP net income, compared with $227 million a year earlier, and raised its quarterly dividend 9% to $0.48 per share.
Despite the sales growth, its GAAP gross margin fell to 6.61% from 7.22%. TD SYNNEX forecasts fourth-quarter revenue of $21.8 billion to $22.6 billion.
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