Last updated: June 30, 2023
1 minutes read
TD Synnex has reported a 7.9% YoY decrease in Q2 revenues, falling to $14.06bn, and a 10.6% slump in net income to $133.1m.
These results were affected by lower demand for PC products, impacting its Endpoint Solutions portfolio.
However, growth in advanced solutions and high-demand technologies, such as cloud and datacentre-related tech, helped to offset losses.
Rich Hume (pictured), CEO of TD Synnex, said: “As we enter the second half of our fiscal year, we are focused on pursuing an additional $50m in cost savings and accelerating our shareholder returns via opportunistic share repurchases.”
The distributor predicts Q3 revenues to be between $13.5bn and $14.5bn, with a net income of $111m to $158m.
