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TD SYNNEX Stock Surges 6.12% on Strong Q3 Earnings Beat
TD SYNNEX Stock Surges 6.12% on Strong Q3 Earnings Beat
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BTCCSquare news:
TD SYNNEX Corporation (SNX) shares rallied sharply after the company posted better-than-expected fiscal third-quarter results. The stock closed at $159.54, up 6.12%, with a slight after-hours gain to $159.69.
Revenue reached $15.7 billion, exceeding guidance and marking a 6.6% year-over-year increase. Growth was driven by both Advanced Solutions and Endpoint Solutions segments, with constant currency revenue up 4.4%. Non-GAAP gross billings jumped 12.1% to $22.7 billion.
The performance demonstrates resilience in challenging market conditions, with earnings per share growing 31.7%. Global expansion efforts appear to be bearing fruit across the technology distribution giant's operations.
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