TD SYNNEX Corporation - SNX STOCK NEWS

Tsecond, a data mobility innovator, has partnered with TD SYNNEX (NYSE: SNX) to enhance digital transformation for enterprises. This collaboration aims to tackle challenges in data capture, storage, and processing, facilitating the movement of massive data from edge to cloud environments. The centerpiece of this partnership is Tsecond's BRYCK® platform, designed to efficiently handle large data volumes. The platform can process data at speeds of up to 40 GB/second, offering various capacity options. This strategic alliance is expected to broaden Tsecond's market reach and deliver increased value to TD SYNNEX's extensive customer base, which includes over 150,000 clients globally.

TD SYNNEX (NYSE: SNX) has been appointed as a global distributor for the Aruba EdgeConnect platform, enhancing their partnership with Hewlett Packard Enterprise (HPE). This collaboration aims to improve the distribution of EdgeConnect, a software-defined wide area network (SD-WAN) solution, across over 150 countries. The TD SYNNEX Global Solutions Team will leverage its extensive IT ecosystem to optimize performance and security for global customers. The EdgeConnect platform has seen significant double-digit growth, particularly outside the United States. TD SYNNEX was recognized as HPE’s Global Distributor of the Year for 2022, underscoring their longstanding relationship and commitment to innovation in IT distribution.

TD SYNNEX has been recognized as a 2023 "HP Inc. Partner of the Year" during the HP AMPLIFY Partner Conference, underscoring its achievements in growth and innovation. The company received the U.S. Print Hardware Distributor of the Year award, reaffirming its strong partnership with HP. Additionally, TD SYNNEX Canada was honored as the Canada Distributor of the Year. The selection criteria included strategic growth and innovation across various categories such as Personal Systems and Print Hardware. This recognition highlights TD SYNNEX's commitment to collaborating with HP to deliver value to mutual customers.

TD SYNNEX (NYSE: SNX) reported fiscal Q1 2023 results with revenue of $15.1 billion, a 2.2% decrease year-over-year, though showing a 0.7% growth in constant currency. Non-GAAP gross billings rose to $20.2 billion, up 1%. Operating income increased by 34% to $298 million, while diluted EPS climbed 28% to $1.75. The company achieved $25 million in merger-related cost synergies. Cash used in operations was approximately $103 million, and $148 million was returned to shareholders through stock repurchases and dividends. Guidance for the second quarter remains positive despite some challenges.

TD SYNNEX (NYSE: SNX) recently launched a new Partner Directory aimed at enhancing collaboration among its ecosystem partners. Initially available to CommunitySolv members, the directory will later roll out to all North American partners. The platform facilitates peer-to-peer interactions, allowing partners to showcase their unique capabilities and certifications. Executives believe it will bolster competitive advantages and assist members in accessing new markets and forming beneficial connections. The announcement was made at the CommunitySolv Spring Conference in New Orleans.

TD SYNNEX (NYSE: SNX), a global IT distributor, has achieved AWS Premier Tier Services Partner status in the Amazon Web Services (AWS) Partner Network. This recognition affirms SYNNEX's commitment to building strong relationships and expertise in delivering cloud solutions. The rigorous approval process involved numerous accreditations, certifications, and significant investment in AWS. With this status, TD SYNNEX aims to enhance its strategic initiatives in cloud migrations and other areas, further reinforcing its capabilities and customer confidence in the cloud services space. This achievement will drive growth and success for its partners and their clients.

TD SYNNEX (NYSE: SNX) will announce its financial results for Q1 fiscal 2023 on March 28, 2023, before U.S. market opens. A conference call with CEO Rich Hume and CFO Marshall Witt will take place at 6:00 a.m. PT / 9:00 a.m. ET. Interested parties can access the earnings release and the live audio webcast through ir.tdsynnex.com. With over 150,000 customers globally and a diverse product portfolio, TD SYNNEX continues to strive for innovation in technology solutions. The company is committed to being a respected corporate citizen, focusing on growth opportunities for its stakeholders.