TD SYNNEX Corp (NYSE: SNX ) shares are trading higher on Friday after the company reported its fourth-quarter results .

Quarterly revenue of $15.85 billion, up 10% Y/Y, exceeded the analyst view of $15.22 billion.

The Fremont, California-based company reported an adjusted EPS of $3.09, beating the street view of $3.05 .

On a constant currency basis, revenue increased 9.2%, led by growth in both the Advanced Solutions and Endpoint Solutions portfolios.

Adjusted gross billings were $21.2 billion in the quarter under review, compared to $19.7 billion in the prior-year quarter.

Gross profit rose to $1.04 billion from $1.02 billion in the prior year quarter, while margin declined to 6.6% from 7.1%.

Adjusted operating income stood at $422 million versus $427 million a year ago quarter, with an adjusted margin of 2.7% versus 3.0% in the same period last year.

TD SYNNEX returned $136 million to shareholders through share repurchases and dividends.

Dividend : TD SYNNEX’s Board of Directors raised a quarterly cash dividend by 10% to $0.44 per share, payable on January 31, to stockholders of record as of January 24.

Outlook : TD SYNNEX expects first-quarter adjusted EPS of $2.65 – $3.15, compared to the estimate of $2.95 .

The company projects revenue of $14.4 billion – $15.2 billion, vs. the estimated $14.769 billion.

Patrick Zammit, CEO of TD SYNNEX, said, “Gross billings in Q4 grew 7% year-over-year and we returned 72% of our free cash flow to shareholders in fiscal year 2024. Building on our momentum, we believe we’re well-positioned for the year ahead as we anticipate the IT spending environment will continue to improve.”

Investors can gain exposure to the stock via Tidal Trust III Rockefeller U.S. Small-Mid Cap ETF (NYSE: RSMC ) and Invesco Exchange-Traded Fund Trust II Invesco S&P MidCap 400 Revenue ETF (NYSE: RWK ).

Price Action: SNX shares are up 5.84% at $129.23 at the last check Friday.

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This article TD SYNNEX Delivers Strong Q4, Raises Dividend Amid IT Growth Momentum; Stock Gains originally appeared on Benzinga.com

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