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Explain this story: TD Synnex posts record Q3 revenue of $21.6 billion as Hyve business more than doubles
TD Synnex achieved record Q3 revenue of $21.6 billion, a 37.7% increase year over year, driven largely by its Hyve segment which more than doubled its gross billings to $7 billion. This growth is attributed to increased AI infrastructure spending and strong performance across all geographic regions in its Distribution segment. The company also provided a strong Q4 outlook and announced shareholder returns through buybacks and dividends.
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TD Synnex achieved record Q3 revenue of $21.6 billion, a 37.7% increase year over year, driven largely by its Hyve segment which more than doubled its gross billings to $7 billion. This growth is attributed to increased AI infrastructure spending and strong performance across all geographic regions in its Distribution segment. The company also provided a strong Q4 outlook and announced shareholder returns through buybacks and dividends.
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