TD SYNNEX Slides As Q1 Misses On Revenue And EPS, Cash Flow Turns Deeply Negative

TD SYNNEX Corp (NYSE:SNX) shares traded lower on Thursday after the company reported its first-quarter results.

Quarterly revenue of $14.53 billion, up 4.0% year over year, missed the analyst view of $14.79 billion.

On a constant currency basis, revenue increased 6.0% Y/Y, led by growth in both the Advanced Solutions and Endpoint Solutions portfolios.

Adjusted gross billings were $20.7 billion in the quarter under review, compared to $19.3 billion in the prior-year quarter.

Gross profit declined to $998 million from $1.01 billion in the prior year quarter, while margin contracted to 6.9% from 7.2% a year ago quarter.

Adjusted operating income stood at $399 million versus $425 million a year ago quarter, with an adjusted margin of 2.7% versus 3.0% in the same period last ...