TD SYNNEX tops high-end guidance with record Q2

Revenue climbed 31 per cent fuelled by momentum across distribution, Hyve and all major regions

TD SYNNEX has reported record Q2 results as demand for AI infrastructure and broad-based growth across its distribution and Hyve businesses continued to gain momentum.

Top line jumped 31 per cent to $19.6bn (£14.9bn) for the quarter ended 31 May 2026, up from $14.9bn a year earlier and above the high end of the company’s guidance.

The rise was reportedly driven by AI infrastructure, cloud and advanced computing demand.

Distribution revenue leapt 28 per cent year-on-year to $16.6bn, accounting for around 85 per cent of group revenue.

Hyve Solutions turnover climbed 49 per cent to $3bn, fuelled by increased volumes from manufacturing and engineering customers deploying AI infrastructure.

Supply chain services also expanded on the back of increasing demand for components supporting customers’ infrastructure needs.

GAAP net income surged 80.7 per cent to $334m, while non-GAAP net income climbed 55.8 per cent to $390m.

“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.

“Our results reflect consistent execution against our strategy.”

TD SYNNEX Q2 performance by region

Geographically, the Americas remained the US-based distie’s largest distribution market, with earnings climbing 28 per cent to $9.5bn.

Europe posted similar momentum, as revenue soared 29 per cent to $6bn.

APJ top line also skyrocketed 29 per cent to $1bn.

Momentum carries into outlook

Moving forward, TD SYNNEX expects Q3 revenue to reach between $18.2bn and $19bn.

The company forecast GAAP net income of between $273m and $313m and non-GAAP net income of between $341m and $381m.

These results follow a period of momentum for the distributor.

In Q1, top line jumped 18.1 per cent to $17.2bn up, while net income leapt 61.2 per cent to $383m.

During the last quarter, the organisation also outpaced the European market, as its distribution unit increased at a double-digit rate.