Synnex Corp is a prominent provider of technology solutions, offering a wide range of services that support the IT channel, including distribution of IT products and services, and integration for a variety of technology manufacturers
The company specializes in the wholesale distribution of various technology-related products, including computers, peripherals, and software, while also delivering logistics, subscription, and cloud services to its customers. By partnering with manufacturers and resellers, Synnex facilitates a collaborative ecosystem that helps businesses efficiently meet their technology needs and enhance their operational capabilities in a rapidly evolving digital landscape.
Shares of IT distribution giant TD SYNNEX (NYSE:SNX) fell 18.1% in the morning session after the company reported weak first-quarter 2025 results with sales, operating profits, and earnings all falling short of Wall Street's expectations. Its revenue guidance for next quarter missed significantly, and its EPS guidance for next quarter fell short of Wall Street's estimates.
IT distribution giant TD SYNNEX (NYSE:SNX) missed Wall Street’s revenue expectations in Q1 CY2025 as sales rose 4% year on year to $14.53 billion. Next quarter’s revenue guidance of $14.3 billion underwhelmed, coming in 2.7% below analysts’ estimates. Its non-GAAP profit of $2.80 per share was 3.6% below analysts’ consensus estimates.
U.S. stock futures were swinging between gains and losses on Thursday after snapping a three-day winning streak on Wednesday. Futures of major benchmark indices were mixed in premarket trading. Aiming to boost U.S. manufacturing and reduce reliance on global suppliers, new auto tariffs were introduced on Wednesday, which will go into effect from April 3.
Wall Street faced heavy selling pressure in its first trading session after former President Jimmy Carter's funeral, as a series of economic developments rattled interest rate and energy markets, sparking heightened risk aversion among investors.
