TD SYNNEX CORPORATION Stock Price, News & Analysis

TD SYNNEX Corporation (NYSE: SNX) announced the launch of its Catalina 2 Platform, utilizing Intel's 4th Gen Xeon Scalable processors. Designed for diverse workloads, it includes three motherboards (1S, 2S, 4S) and supports up to 4TB memory capacity. The 4S system is touted as the highest throughput air-cooled 1U server on the market, aimed at sectors like AI and data analytics. Hyve Solutions, a subsidiary of TD SYNNEX, emphasizes its commitment to innovating hyperscale digital infrastructures tailored to client needs.

TD SYNNEX (SNX) reported strong financial results for the fiscal fourth quarter and year ended November 30, 2022. Q4 revenue reached $16.2 billion, a 4.1% increase year-over-year, with non-GAAP diluted EPS at $3.44, exceeding guidance by $0.34. For fiscal 2022, total revenue was $62.3 billion, up 97.2% mainly due to the merger with Tech Data. The company returned $240 million to shareholders and declared a $0.35 quarterly dividend, a 17% increase from the prior quarter. Despite currency headwinds, TD SYNNEX expects a strong performance in 2023.

TD SYNNEX (NYSE: SNX) announced it will release its fourth quarter fiscal 2022 financial results on January 10, 2023, before U.S. markets open.

A conference call led by CEO Rich Hume and CFO Marshall Witt will occur at 6:00 a.m. PT / 9:00 a.m. ET. The earnings press release and a live audio webcast will be available on their investor relations website.

TD SYNNEX (NYSE: SNX) is expanding its partnership with Google Cloud to nearly 60 additional countries across Latin America, Europe, and Asia. This expansion follows an earlier rollout that included the United States, Canada, UK, Ireland, and France. The initiative aims to enhance access to cloud solutions and services, addressing the digital transformation needs of businesses. TD SYNNEX offers various resources to support organizations in building cloud practices and adapting to Google Cloud technologies.

TD SYNNEX has achieved significant milestones by adding the AWS Government and Education Competencies, alongside memberships in the AWS Managed Services and GovCloud Service Delivery Programs. This achievement enhances its position as a key AWS distributor, positioning the company to drive growth with public sector clients. The strategic collaboration with AWS, initiated in January 2022, is enabling TD SYNNEX to expand its digital offerings for small and medium enterprises effectively. Their focus on optimizing technology investments is set to strengthen their market presence.

TD SYNNEX has released its inaugural Ecosystem Benchmark Report, revealing insights from North American technology leaders. Key findings indicate that nearly 75% expect to increase revenue from professional services, while over half plan to invest in next-gen technologies. Despite a projected $800 billion global metaverse market, only 12% plan to offer AR/VR solutions within two years. Additionally, 90% anticipate adopting as-a-service models by 2024. Conducted with Canalys, the report emphasizes expanding technology offerings and the importance of ecosystem collaboration.

TD SYNNEX (NYSE: SNX) has expanded its partnership with Google Cloud to enhance digital transformations in the U.S. public sector. The collaboration introduces key solutions including Google Workspace, BigQuery, and cybersecurity offerings aimed at improving operations and analytics for public sector organizations. This move is expected to open new opportunities and strengthen TD SYNNEX’s presence in this crucial market. The expansion reflects a commitment to support public sector missions through innovative technology solutions.

Hyve Solutions Corporation, a subsidiary of TD SYNNEX (NYSE: SNX), announced the launch of systems featuring 4th Gen AMD EPYC processors, enhancing performance and energy efficiency. The new processors boast up to 50% more memory channels, PCIe Gen 5 support, and are designed for hyperscale workloads. Jay Shenoy, VP of Technology, highlighted the focus on delivering cutting-edge solutions, while AMD emphasizes high performance and low total cost of ownership. This collaboration aims to optimize data centers for better performance and environmental goals.

Zettaset has achieved FIPS 140-2 certification, validating its data protection solutions for federal agencies. This certification supports Zettaset's strategy in the federal sector and enhances cybersecurity deployments through a partnership with TD SYNNEX Public Sector. The collaboration focuses on providing a one-click compliance solution to U.S. government organizations, aligning with the Biden Administration's cybersecurity initiatives. Zettaset's XCrypt solution enables secure data protection in hybrid cloud environments, allowing public sector organizations to comply with data regulations.