Headline: TD SYNNEX Unveils Third Quarter 2024 Financial Results

TD SYNNEX increased its revenue by 5.2% compared to the previous fiscal third quarter, reaching $14.7 billion, while its operating income rose to $303 million due to a decline in acquisition, integration, and restructuring costs.

The statement included the following details: "TD SYNNEX, a leading global distributor and solutions aggregator for the IT ecosystem with over 150,000 customers in more than 100 countries, announced its financial results for the third quarter of the fiscal year ending on August 31, 2024. Key figures from the company's financial results report are as follows: Revenue increased by 5.2%, from $14 billion in the prior fiscal third quarter to $14.7 billion. In constant currency terms, revenue grew by 5.6% compared to the previous fiscal third quarter. This growth was driven by the expansion in both the advanced solutions and endpoint solutions portfolios. Non-GAAP gross billings were $20.3 billion compared to $18.6 billion in the prior fiscal third quarter. Gross profit was $961 million, compared to $971 million in the previous fiscal year's third quarter. The gross profit margin and non-GAAP gross profit margin were 6.5%, down from 7% in the previous fiscal year's third quarter, due to higher margins in strategic technologies and product mix. The presentation of additional revenues on a net basis positively impacted the gross profit margin and non-GAAP gross profit margin by approximately 23 basis points. Operating income was $303 million, compared to $240 million in the prior fiscal third quarter, primarily due to a decline in acquisition, integration, and restructuring costs. Non-GAAP operating income was $393 million, compared to $397 million in the previous fiscal third quarter. The operating margin was 2.1%, up from 1.7% in the prior fiscal year's third quarter, mainly due to a decrease in acquisition, integration, and restructuring costs. The non-GAAP operating margin was 2.7%, compared to 2.8% in the previous fiscal third quarter. Diluted earnings per share (EPS) increased to $2.08 from $1.49 in the prior fiscal year's third quarter. Non-GAAP diluted EPS was $2.86, compared to $2.78 in the prior fiscal third quarter. Shareholders were paid $91 million in share repurchases and dividends, compared to $136 million in the previous fiscal third quarter."