IT Solutions Provider TD Synnex' Q3: Mixed Performance, Street-Missing Q4 Forecast & More
Portfolio Pulse from Lekha Gupta
TD Synnex Corp reported a Q3 FY23 revenue decline of 9.1% Y/Y to $13.96 billion, missing the consensus of $14.11 billion. The company returned $103 million of share repurchases and $33 million of dividends to shareholders in Q3. The company expects Q4 revenue of $14.0 billion-$15.0 billion, adjusted EPS of $2.40-$2.90. SNX shares are trading lower by 5.02% at $96.79.
September 26, 2023 | 2:28 pm
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TD Synnex reported a decline in Q3 FY23 revenue and its shares are trading lower. The company's Q4 revenue forecast also misses street estimates.
TD Synnex's Q3 revenue decline and lower-than-expected Q4 forecast are likely to negatively impact investor sentiment, leading to a potential decrease in the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100