TD Synnex posted record fiscal third-quarter results, with revenue climbing to $21.56 billion from $15.65 billion a year earlier, a gain of 37.7%.
Gross profit rose 26.2% to $1.43 billion, while gross margin narrowed to 6.61% from 7.22%.
Operating income jumped 67.6% to $643 million, and operating margin improved to 2.98% from 2.45%, a 53-basis-point increase. On a non-GAAP basis, operating income increased 55.1% to $736 million and operating margin rose to 3.42% from 3.03%.
Net income advanced 83.5% to $416 million, and diluted earnings per share nearly doubled to $5.18 from $2.74, up 89.1%.
Non-GAAP diluted EPS increased 58.7% to $5.68 from $3.58.
Gross billings reached $31.83 billion, up 40.0% from $22.73 billion a year earlier.
The company returned $139 million to stockholders during the quarter, including about $100 million in share repurchases and $38 million in dividends.
TD Synnex also raised its quarterly dividend to $0.48 per share from $0.44 a year earlier, an increase of 9%.
For the fiscal fourth quarter, the company guided to revenue of $21.8 billion to $22.6 billion and non-GAAP gross billings of $31.4 billion to $32.4 billion. It projected diluted EPS of $4.58 to $5.08 and non-GAAP diluted EPS of $5.65 to $6.15. Following these announcements, the company's shares moved 1.64%, and are now trading at a price of $287.89. Check out the company's full 8-K submission here.
