TD SYNNEX Corporation (NYSE: SNX) reported record revenue of $19.6 billion for the fiscal second quarter ended May 31, 2026, an increase of 31% from the same period a year earlier. Non-GAAP diluted earnings per share rose 62.2% to $4.85, also a company record for the quarter. Both results came in above the high end of the company's prior outlook.
The results mark TD SYNNEX's strongest year-over-year revenue growth in several quarters, as the company continues to benefit from rising enterprise demand for AI infrastructure and IT hardware distribution across its global business.
#Revenue Growth Exceeded Outlook Across Both Segments
Revenue of $19.6 billion compared to $14.9 billion in the fiscal second quarter of 2025, with growth of 29.1% on a constant currency basis after adjusting for foreign exchange movements. Non-GAAP gross billings, which capture the full value of business activity before presentation adjustments under accounting rules, reached $28.9 billion, up 33.4% year over year and 31.7% in constant currency.
GAAP operating income rose 58.3% to $519 million, with operating margin expanding 45 basis points to 2.65%. On a non-GAAP basis, operating income increased 48.5% to $615 million, with non-GAAP operating margin of 3.14%, up 37 basis points from Q2 2025.
GAAP net income was $334 million, up 80.7% from $185 million a year earlier. GAAP diluted EPS reached $4.15, compared to $2.21 in the prior year period.
"We delivered a record quarter with broad-based strength across Distribution and Hyve, building on the momentum we have carried out of recent quarters," said Patrick Zammit, CEO of TD SYNNEX, in the earnings release. "Our results reflect consistent execution against our strategy."
#Capital Returns Included Dividend Increase and Share Buybacks
TD SYNNEX returned $151 million to stockholders during the quarter, consisting of $112 million in share repurchases and $39 million in dividends. The company's Board of Directors declared a quarterly cash dividend of $0.48 per common share, payable July 31, 2026 to stockholders of record as of July 17, 2026. The dividend represents a 9% increase from the same period a year ago.
#Company Guides for Q3 Revenue of $18.2 to $19.0 Billion
For the fiscal third quarter ending August 31, 2026, the company projects revenue of $18.2 billion to $19.0 billion and non-GAAP gross billings of $27.2 billion to $28.2 billion. Non-GAAP diluted EPS guidance is set at $4.25 to $4.75.
TD SYNNEX operates as a global IT distributor and solutions aggregator, connecting hardware, software, and services across more than 150,000 customers in over 100 countries. Its Hyve Solutions division designs and manufactures compute and cloud infrastructure. The company competes in a distribution market that includes Ingram Micro and Arrow Electronics, with demand patterns closely linked to enterprise IT capital spending cycles.
The company noted that actual results may differ materially from forward-looking statements, citing risks including geopolitical instability, weakness in IT spending, customer concentration, pricing pressure from OEM suppliers, foreign currency movements, tariff uncertainty, and variability in demand from reseller and integration customers.
Management projected non-GAAP net income of $341 million to $381 million for the third quarter, though execution against that range depends on market conditions, supply availability, and the trajectory of enterprise IT spending across the company's geographic footprint.