Filing Flows › TD Synnex (SNX) › Q3 FY26 › vs Q2 FY26
TD Synnex (SNX) Q3 FY26 vs Q2 FY26 (quarter over quarter)
TD Synnex's revenue rose $2.0B (+10%) from $19.6B in Q2 FY26 to $21.6B in Q3 FY26. The biggest changes: Hyve Solutions +$836M (+28%); Americas distribution +$774M (+8%); Europe distribution +$322M (+5%). Gross margin 6.6% against 6.8% (-0.2 pts).
TD Synnex, Q3 FY26: revenue $21.6B (+38% year over year), operating margin 3.0%, net earnings $416M, operating cash flow −$917M. The chart draws each line against Q2 FY26, the increases inside each band.
Margins
| Q3 FY26 | Q2 FY26 | Change | |
|---|---|---|---|
| Gross margin | 6.6% | 6.8% | -0.2 pts |
| Operating margin | 3.0% | 2.7% | +0.3 pts |
| Net margin | 1.9% | 1.7% | +0.2 pts |
Every line
| Line | Q3 FY26 | Q2 FY26 | Change | % |
|---|---|---|---|---|
| Americas distribution | $10.3B | $9.5B | $774M | +8% |
| Europe distribution | $6.4B | $6.0B | $322M | +5% |
| Hyve Solutions | $3.8B | $3.0B | $836M | +28% |
| APJ distribution | $1.1B | $1.0B | $50.9M | +5% |
| Revenue | $21.6B | $19.6B | $2.0B | +10% |
| Gross profit | $1.4B | $1.3B | $86.0M | +6% |
| Cost of revenue | $20.1B | $18.2B | $1.9B | +10% |
| Operating profit | $643M | $519M | $124M | +24% |
| Operating expenses | $783M | $820M | −$37.6M | -5% |
| Pre-tax earnings | $555M | $430M | $125M | +29% |
| Other expense, net | $87.6M | $89.4M | −$1.8M | -2% |
| Net earnings | $416M | $334M | $82.2M | +25% |
| Income tax | $139M | $95.8M | $43.2M | +45% |
| Operating cash sources | $1.5B | $723M | $733M | +101% |
| Depreciation & amortization | $106M | $105M | $963K | +0.9% |
| Share-based compensation | $16.3M | $17.9M | −$1.6M | -9% |
| Cash used in operations | $917M | $266M | $651M | +245% |
| Working capital & other | $1.5B | $723M | $733M | +101% |
Questions
How much did TD Synnex's revenue grow quarter over quarter in Q3 FY26?
TD Synnex's revenue rose $2.0B (+10%) from $19.6B in Q2 FY26 to $21.6B in Q3 FY26.
What drove TD Synnex's revenue change in Q3 FY26?
Hyve Solutions +$836M (+28%); Americas distribution +$774M (+8%); Europe distribution +$322M (+5%).