Welcome to our dedicated page for TD SYNNEX CORPORATION news (Ticker: SNX), a resource for investors and traders seeking the latest updates and insights on TD SYNNEX CORPORATION stock.
TD SYNNEX Corporation (SNX) serves as your centralized source for official news and developments from the global IT distribution leader. This repository aggregates essential updates including financial results, strategic partnerships, technology ecosystem expansions, and operational milestones.
Investors and industry professionals gain direct access to primary source documents including earnings releases, executive announcements, and supply chain innovations. Our curated feed ensures timely updates on SNX's role in connecting 150,000+ technology solutions across hardware distribution, cloud services, and business process outsourcing.
The archive features categorized updates on:
- Quarterly financial performance and annual reports
- Strategic vendor partnerships and channel expansions
- Technology solution launches and service enhancements
- Corporate governance updates and leadership changes
Bookmark this page for streamlined tracking of SNX's market position as a Fortune 500 leader in IT infrastructure and solutions aggregation. Verify time-sensitive decisions against original press releases and official statements.
Hyve Solutions, a subsidiary of TD SYNNEX (NYSE: SNX), has announced the development of advanced network switches to accelerate rack-level AI deployment at scale. These switches integrate Broadcom's Tomahawk® 5 series (BCM78900) of 51.2 Tb/s devices, enabling efficient design of customer-specific requirements.
The new switches are designed to enhance data flow, performance, and scalability for AI and machine learning applications. Broadcom's Tomahawk 5 series doubles the bandwidth compared to other available silicon and includes features specifically designed to accelerate AI/ML workloads. It offers Cognitive Routing capabilities, flexible 100G PAM4 SerDes, and superior energy efficiency.
Hyve Solutions will showcase these innovations at the 2024 OCP Global Summit in San Jose, California, from October 15-17, at Booth A17.
TD SYNNEX (NYSE:SNX) has launched its Destination AI™ Practice Accelerator in North America to fast-track AI go-to-market efforts and monetization for partners. The program provides personalized support for partners delivering specialized AI solutions to customers. Key points include:
- Nearly half of all channel partners plan to offer AI-driven solutions in the next two years
- The program focuses on integrating AI across high-growth solutions and industry verticals
- Each month features a new aggregated AI solution, with partners participating in six-week courses quarterly
- The upcoming cohort will focus on leveraging Generative AI for business automation, sponsored by Intel
- The program piloted in June with 12 partners in the retail vertical, receiving Intel's Distribution Q324 Excellence Award
TD SYNNEX (NYSE: SNX) has released its Third Annual Direction of Technology Report, based on a survey of over 1,000 technology partners from 60+ countries. The report highlights five key global trends shaping the IT market in 2024:
1. Ingenuity and Flexibility: Focus on certifications and specialization, especially in cybersecurity, data privacy, and AI.
2. Innovation with Strong Foundation: 44% plan to offer AI solutions within two years.
3. Essential Solutions: Security identified as top profit generator.
4. Collaboration and Consolidation: 73.2% of IT spend driven by partners in 2024.
5. Regulation and Risk Mitigation: ESG standards recognized as a major business challenge.
The report emphasizes the balance between AI innovation and core technologies, with security remaining a top priority for partners.
SentryBay, a leader in endpoint protection, has partnered with TD SYNNEX, a global IT distributor, to offer its Armored Client solution for Microsoft AVD and W365 environments. The partnership will initially serve TD SYNNEX's channel network in the USA and Canada, with plans to expand globally.
SentryBay's Armored Client provides a defensive layer that protects DaaS sessions and applications from keyloggers, screen capture, and malicious process injection, preventing data leakage and credential theft. This solution is targeted at enterprises and SMEs using Microsoft AVD and W365, particularly those adopting BYOD business models.
The partnership aims to enhance TD SYNNEX's security product portfolio and complement existing vendors, including Microsoft. Scott Young, Senior VP of Product Management at TD SYNNEX, emphasized the importance of comprehensive solutions to address cyber threats in the evolving business landscape.
TD SYNNEX reported fiscal 2024 Q3 results with revenue of $14.7 billion, at the upper end of their outlook. Non-GAAP gross billings were $20.3 billion, exceeding expectations. The company reported a net income of $179 million and non-GAAP net income of $245 million. Diluted EPS was $2.08, and non-GAAP diluted EPS was $2.86, both above the midpoint of their outlook. Cash provided by operations was $386 million with free cash flow of $339 million. The company returned $91 million to shareholders through share repurchases and dividends. A quarterly cash dividend of $0.40 per share was announced, up 14% from the previous year.
Regionally, the Americas saw a revenue increase of 2.4% to $9.1 billion, Europe saw an 8.6% increase to $4.6 billion, and Asia-Pacific and Japan saw a 17.6% increase to $1.0 billion. However, gross profit decreased by 1.1% to $961 million, and gross margin fell from 6.96% to 6.54%. Operating income increased by 26.1% to $303 million, but non-GAAP operating income decreased by 1% to $393 million.
TD SYNNEX (NYSE: SNX) has announced an agreement to acquire IPsense Cloud Migration business in Brazil, aiming to create a new Cloud competence center for its resellers. This strategic move will enable TD SYNNEX's business partners to deliver seamless workload cloud migrations to their end-customers. The acquisition, expected to close within 30 to 90 days, will integrate IPsense's expertise in AWS solutions into TD SYNNEX's two-tier distribution model.
The new Cloud competence center will be equipped with advanced cloud services and expertise, strengthening TD SYNNEX's portfolio of services and supporting its focus on delivering higher value to resellers. This approach aims to foster partner-to-partner projects and build stronger alliances in the Latin American market, where digital transformation remains a top priority.
Exclaimer, the leading email signature management platform, has announced a new partnership with TD SYNNEX (SNX), a global IT ecosystem distributor and solutions aggregator. This collaboration expands Exclaimer's reach to managed service provider (MSP) partners in North America through TD SYNNEX's distribution network.
The partnership allows TD SYNNEX's MSP partners to offer Exclaimer's innovative email signature solution for Microsoft 365 and Google Workspace to their customers. Exclaimer's platform provides centralized management of email signatures, ensuring secure and compliant communications while enabling marketing teams to create impactful, personalized signatures.
This strategic move aligns with Exclaimer's ongoing investment in North American partnerships, aiming to meet the growing demand for email signature management solutions.
Plurilock Security Inc. (TSXV: PLUR) (OTCQB: PLCKF) has announced a partnership with TD SYNNEX (NYSE: SNX) to provide AI services in North America. Under this agreement, Plurilock will offer AI-focused critical services and cybersecurity solutions for TD SYNNEX's North American operations. These services may include security operations, offensive security, data protection, Zero Trust architecture, and AI transformation.
This partnership represents the initial phase of a potentially broader collaboration, with the possibility of expanding into TD SYNNEX's global operations. The partnership aims to enhance TD SYNNEX's AI services offerings in the cybersecurity sector, leveraging Plurilock's expertise in AI and cybersecurity developed over eight years.
TD SYNNEX (NYSE: SNX) has announced that it will release its third quarter fiscal 2024 financial results before the U.S. market opens on Thursday, September 26, 2024. The company will host a conference call to discuss the results at 6:00 a.m. PT / 9:00 a.m. ET on the same day. Investors and interested parties can access the quarterly earnings press release and a live audio webcast of the earnings call at ir.tdsynnex.com. A replay of the webcast will be available after the call for those unable to attend the live event.
TD SYNNEX (NYSE: SNX) has released its latest Corporate Citizenship Report, highlighting significant progress in environmental, social, and governance commitments. Key achievements include:
- Approximately 30% reduction in combined Scope 1 & 2 emissions in FY 2023
- Increase in electricity from renewable sources to about 31%
- Approval of emissions-reduction targets by Science Based Targets Initiative (SBTi)
- EcoVadis silver medal and CDP Management (B-) rating
- Certification as a Great Place to Work® in 10 countries
- 50% of new hires from underrepresented groups
- Introduction of a Global Human Rights Policy
- Enhanced cybersecurity measures and data privacy initiatives
The report underscores TD SYNNEX's commitment to sustainability, diversity, and ethical business practices across its operations and the IT channel.
