Sure! The translation of the heading from German to English is: "TD SYNNEX Reports Strong Growth in the Third Quarter: Focus on Hyve and Strategic Technologies
- Focus on Expansion, Strategic Investments, and AI Technologies.
- TD SYNNEX exceeds expectations with robust quarterly growth.
Eulerpool News·
TD SYNNEX, a leading IT distributor, has presented impressive results for the third quarter of the fiscal year 2024. Gross billings rose by 9% to USD 20.3 billion, surpassing the upper limit of expectations. Management attributed this positive development to strong performance in geographic segments and in the Endpoint and Advanced Solutions businesses.
Patrick Zammit, the new CEO of TD SYNNEX, emphasized the central role of the company within the global IT ecosystem and highlighted the tailored offerings that enable significant acceleration of partner growth. "Our global reach and extensive portfolio differentiate us and drive our business forward," Zammit stated.
Of particular significance was the rapidly growing business with Hyve, a subsidiary offering specialized data center solutions. Despite an exceptionally strong performance in the previous year and the resulting challenging comparison quarter, meeting financial expectations remained a key objective.
The financial figures also indicate a stable transition from gross billings to net revenues, suggesting improved cost control. Non-GAAP gross profit amounted to USD 961 million, representing 4.7% of gross billings. This led to a slightly improved cost-profit margin, particularly through disciplined cost control.
Marshall Witt, CFO of the company, emphasized the importance of disciplined capital allocation, supported by strong free cash flow generation. For the fourth quarter, Witt projected gross billings in the range of USD 20.5 to 21.5 billion.
Regarding future direction, the company will focus on revenue growth through geographic expansion, price and margin management, and capital allocation. An additional aspect will be increased investment in technological platforms, particularly in the area of cloud services.
Looking at the overall situation in the IT market, TD SYNNEX expresses optimism: Despite some challenges in the PC market and the need for strategic investments, it is expected that expenses and the resulting investments in the fiscal year 2025 will yield corresponding positive returns. AI technologies also offer potential for further growth, with Hyve playing a central role here.
In summary, TD SYNNEX remains committed to expanding its position as the preferred global partner in IT distribution, emphasizing that the combination of strong operational business and strategic investments will ensure long-term success. 
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