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 (NYSE: SNX) is a global distributor and solutions aggregator for the IT ecosystem, with an edge-to-cloud portfolio focused on cloud, cybersecurity, big data and analytics, artificial intelligence (AI), IoT, mobility and everything as a service. This news page collects company announcements, press releases and other updates that reflect how TD SYNNEX operates across these technology segments and global markets.
Readers can find coverage of financial results and capital markets activity, including quarterly earnings releases, revenue trends by region, non-GAAP gross billings metrics and dividend declarations reported in Form 8-K filings and accompanying press releases. The company also reports on financing transactions, such as the issuance of senior notes, and provides context on how proceeds are intended to be used.
TD SYNNEX news also highlights strategic initiatives and partnerships. Recent announcements describe the launch of Destination AI™ programs like AI Game Plan, the introduction of an AI Infrastructure-as-a-Service offering in collaboration with Nebius, and the creation of a Global FinOps Practice powered by IBM Cloudability. Additional releases cover partner awards and collaborations with providers such as AWS and Wind River, as well as digital experience enhancements like the PartnerFirst Digital Bridge AI Assistant for Microsoft Teams.
Governance and leadership updates appear in current reports and press releases, including appointments and retirements of senior executives. For investors and partners following SNX, this page offers a centralized view of how TD SYNNEX communicates its financial performance, technology focus and ecosystem relationships over time.
TD SYNNEX (NYSE: SNX), a global IT distributor and solutions aggregator, has been Certified™ by Great Place to Work® for the third consecutive year. This recognition is based on a survey of current employees, with over 73% reporting TD SYNNEX as a great place to work, compared to 57% at the average U.S. company.
The company has focused on creating an inclusive environment and supporting co-workers' growth and success. Initiatives include professional development opportunities, internal awards, comprehensive benefits, and increased emphasis on corporate citizenship covering diversity, equity and inclusion, community engagement, and sustainability.
Great Place To Work research indicates that job seekers are 4.5 times more likely to find a great boss at Certified workplaces, and employees are 93% more likely to look forward to work, with better chances of fair pay and promotion.
eSentire, a leading Managed Detection and Response (MDR) provider, has expanded its partnership with TD SYNNEX, making its 24/7 MDR and Security Operations Center (SOC) services available to North American partners. The partnership offers:
- Rapid threat detection and containment: 99% reduction in detection times, 35-second response, and 15-minute Mean Time to Contain (MTTC)
- Comprehensive protection: Multi-signal investigation across network, endpoint, log, cloud, and identity sources
- AI-powered solutions: Including MDR for GenAI Visibility and eSentire Investigator application
- Flexible integration: Over 300 technology integration options and support for existing subscriptions
New offerings include CrowdStrike endpoint and identity protection with eSentire's 24/7 SOC and MDR support, enhancing cybersecurity options for TD SYNNEX customers.
Securonix, a leader in Security Information and Event Management (SIEM), has partnered with TD SYNNEX to distribute its AI-Reinforced SIEM platform to North American partners. This strategic alliance expands the market reach of Securonix EON, which integrates advanced AI capabilities into Securonix's SIEM platform. The partnership aligns with TD SYNNEX's focus on high-growth opportunities in cybersecurity, cloud, analytics, and AI.
Securonix has updated its Elevate partner program to facilitate easier adoption of AI-Reinforced CyberOps capabilities. The program offers tiered pricing, enablement benefits, and a standardized consumption model for TD SYNNEX ecosystem partners. It also allows partners to sell Securonix's User and Entity Behavior Analytics (UEBA) as a standalone solution, creating additional revenue opportunities.
TD SYNNEX (NYSE: SNX) has opened a Center of Excellence (CoE) in Latin America and the Caribbean in partnership with IBM. The CoE, headquartered in São Paulo, Brazil, offers business partners and companies the opportunity to explore cutting-edge technologies such as AI, data, automation, and sustainability solutions. It aims to support partners in co-creating solutions and generating new business opportunities.
The CoE is supported by a multidisciplinary team of over 25 professionals across the region, focusing on enhancing partners' capabilities in IBM software, Storage, and Red Hat technologies. TD SYNNEX is making significant investments in human resources, physical infrastructure, and marketing to ensure comprehensive support throughout the sales cycle, from training to lead generation.
TD SYNNEX (NYSE:SNX), a prominent global IT distributor and solutions aggregator, has seen seven of its leaders recognized on CRN's 2024 Inclusive Channel Leaders list. This accolade honors executives committed to fostering inclusive leadership within the IT channel. The recognized leaders are Derick Fluker, David Jordan, Meredith Payne, Rania Shehata, Jyotika Singh, Sukkie Steve-Fagbemi, and David Watts. Jackie Darling, VP of Diversity, Equity, and Inclusion at TD SYNNEX, highlighted the company's commitment to diversity and the leaders' dedication to creating an inclusive workplace. The Inclusive Channel Leaders list by CRN is an annual recognition that celebrates leaders in the IT ecosystem who promote equity and diversity. The 2024 list will be featured in CRN Magazine's August issue.
TD SYNNEX (NYSE:SNX), a prominent global IT distributor, has been honored by Dell Technologies as the 2024 Distributor of the Year in various regions. The accolades, announced at Dell Technologies World, recognize TD SYNNEX's significant market growth and excellence in distributing Dell products. The awards include Global Distributor of the Year, EMEA Distributor of the Year, North America Distributor of the Year, and APJ Distributor of the Year, with Tech Data India and Tech Data also receiving specific regional honors. Patrick Zammit, COO of TD SYNNEX, praised the global teams' dedication to delivering innovative solutions and collaborating effectively with Dell. Additionally, Dell acknowledged TD SYNNEX in Mexico as the Distributor with the Highest Growth in Storage earlier this year.
TD SYNNEX (NYSE: SNX) reported its fiscal 2024 second-quarter results, with revenue of $13.9 billion, within the expected range of $13.3-$14.9 billion. Non-GAAP gross billings were $19.3 billion, also hitting the upper end of the $18.4-$19.6 billion outlook.
Gross margin and non-GAAP gross margin improved to 6.98%. Net income was $144 million, with non-GAAP net income at $237 million. Diluted EPS was $1.66, and non-GAAP diluted EPS was $2.73. The company returned $288 million to shareholders through share repurchases and dividends, up 210% from the prior year.
Regionally, revenue saw minor declines in the Americas and Europe but grew in Asia-Pacific and Japan. The company announced a quarterly dividend of $0.40 per share, a 14% increase from the previous year. TD SYNNEX remains optimistic about growth prospects for the second half of the fiscal year.
TD SYNNEX (NYSE: SNX) announces that Patrick Zammit will become the new CEO, effective September 1, 2024, succeeding Rich Hume, who will retire but remain on the board of directors. Zammit has been the COO since January 2024, bringing extensive experience in driving growth and operational excellence. During his tenure, Hume led the company through significant growth and transformation, including major acquisitions and mergers. The Board of Directors expressed gratitude to Hume for his impactful leadership and looks forward to Zammit continuing to drive the company's strategic goals.
Corsair (Nasdaq: CRSR) has announced a strategic partnership with TD SYNNEX, a major global IT distributor. This collaboration aims to enhance customer relations by delivering tailored solutions, superior customer support, and consistent communication to meet evolving needs. Matthew Droeg, Managing Director at Corsair for Business, highlighted that TD SYNNEX would help bring Corsair’s advanced products to business clients. Corsair for Business offers high-performance workstations, peripherals, and broadcasting tools, particularly suited for AI and high-computing applications. In addition, Corsair provides TAA-compliant products and market-leading Esports hardware, catering to enterprise, education, and public sector B2B IT channels. Scott Young, SVP of Product Management at TD SYNNEX, emphasized that this partnership will expand their vendor portfolio and enable customers to achieve more through technology.
TD SYNNEX (NYSE: SNX) has announced that it will release its second quarter fiscal 2024 financial results on June 25, 2024, before the U.S. market opens.
A conference call to discuss these results is scheduled for 6:00 a.m. PT / 9:00 a.m. ET on the same day.
The earnings press release and a live audio webcast of the call will be available on TD SYNNEX's investor relations website, with a replay accessible after the call.
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