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TD SYNNEX Corporation reports developments tied to its role as a global distributor and solutions aggregator for the IT ecosystem. The company’s distribution business spans IT hardware, software and systems across the Americas, Europe, and Asia-Pacific and Japan, while Hyve Solutions designs, manufactures and delivers traditional and accelerated compute, cloud and connected infrastructure worldwide.
Recurring news includes vendor awards and channel partnerships with major technology providers, expansion of AI infrastructure, cloud commerce, cybersecurity, secure networking and managed-service offerings, and partner enablement programs. Company updates also cover quarterly operating results, dividends, segment reporting and the performance of its global distribution and Hyve Solutions businesses.
TD SYNNEX (NYSE: SNX) reported impressive fiscal Q3 2022 results, with a revenue of $15.4 billion, up 194.9% year-over-year due to the Tech Data merger. Sequentially, revenue rose by 0.6%. However, operating income decreased to $241.5 million, down 4.4% quarter-over-quarter, while non-GAAP operating income remained stable at $398.3 million. The diluted EPS stood at $1.55, a 14.4% decline from the previous year. Cash used in operations was approximately $67 million, reflecting growth investments. Strong merger integration continues to drive profitability.
TD SYNNEX has launched the IAconnects MobiusFlow® Click-to-Run™ solution on Azure, aimed at simplifying smart building management. This new IoT solution enables faster setup in under an hour, facilitating air quality monitoring and energy-efficient operations. Key benefits include real-time data access, reduced commissioning costs, and the ability to customize dashboards on Microsoft Azure's IoT Platform. This initiative positions TD SYNNEX to capitalize on the growing demand for smart building solutions, enhancing partners' operational efficiencies.
TD SYNNEX (NYSE: SNX) will report its third-quarter fiscal 2022 financial results on September 27, 2022, before the U.S. market opens. A conference call hosted by Rich Hume, CEO, and Marshall Witt, CFO, will be held at 6:00 a.m. PT / 9:00 a.m. ET. Investors can access the earnings press release and live audio webcast at ir.synnex.com.
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On August 31, 2022, Syniti announced a partnership with TD SYNNEX to enhance data management solutions. This collaboration provides enterprises access to Syniti Replicate, a data replication software that offers change data capture. Key benefits include timely data delivery for analytics, reduced system stress, and faster access to data. The software features a user-friendly interface and supports multiple databases without coding requirements. This partnership aims to provide real-time data that empowers organizations to make critical business decisions.
Impartner announces a partnership with TD SYNNEX, enhancing its global reach. Through this collaboration, TD SYNNEX will offer Impartner's award-winning Partner Relationship Management (PRM) and Through Channel Marketing Automation (TCMA) solutions to over 300,000 resellers. This strategic partnership aims to boost revenue and profitability for customers using indirect sales channels. Impartner solutions have shown an average 32% growth in channel revenue and 29% reduction in administrative costs within the first year, highlighting the efficacy of the new offerings.
TD SYNNEX (NYSE: SNX) has achieved Great Place to Work Certification™ in its first year since merging, with 74% of employees affirming it as a great workplace. This is a notable 17 points higher than the average U.S. company. The certification reflects a commitment to employee experience and culture, which has been a focus post-merger. The firm emphasizes its dedication to corporate social responsibility, employee wellness, and continuous feedback integration for a unified company culture.
TD SYNNEX (NYSE: SNX) will participate in the KeyBanc Technology Leadership Forum on August 9, 2022. CFO Marshall Witt will join a fireside chat at 10:00 a.m. MT, with a live webcast available on the Investor Relations website. TD SYNNEX is a global distributor specializing in IT solutions, serving over 150,000 customers in more than 100 countries. The company focuses on high-growth technology fields such as cloud, cybersecurity, big data, and IoT.
TD SYNNEX (NYSE: SNX) has launched an inclusive Independent Software Vendor (ISV) experience aimed at accelerating Software-as-a-Service (SaaS) opportunities. This initiative leverages the company's partner ecosystem to enhance IT operations and automate processes. The ISV experience comprises three tiers: Business Acceleration, Technical Aggregation, and Marketing as a Service. Key benefits include automated billing, multi-cloud billing support, and access to professional services. The program is designed to support ISVs of all stages, helping them to innovate and grow their businesses.
Ribbon Communications has partnered with Poly and TD SYNNEX to introduce the Get Connected bundle, designed to facilitate the adoption of Microsoft Teams for remote and hybrid work environments. This solution features Ribbon Connect and Poly's CCX 600 desk phones or P15 video bars, allowing seamless voice connectivity.Available through TD SYNNEX, enterprises can test the solution free for 60 days, aiming to enhance employee productivity and engagement.