TD Synnex Corp (NYSE: SNX) reported a Q3 FY23 revenue decline of 9.1% Y/Y to $13.96 billion, missing the consensus of $14.11 billion.
The revenue was impacted by a reduction in the Endpoint Solutions portfolio as the industry continued seeing the post-pandemic demand decline for PC ecosystem products.
Adjusted gross billings fell 6.9% Y/Y to $18.6 billion.
Adjusted gross profit rose 3.4% Y/Y to $973.7 million, with a gross margin of 6.97%, up 84 bps Y/Y, led by higher revenues from higher-margin, high-growth technologies.
Adjusted operating margin stood at 2.84%, up 25 bps Y/Y.
Operating cash flow stood at $592 million and FCF of $552 million in the quarter.