FREMONT, Calif., & CLEARWATER, Fla.--(BUSINESS WIRE)--TD SYNNEX PartnerFirst is an evolution of the customer digital experience that brings together platforms & capabilities through a unified framework. ...

Financial Performance and Key Metrics Changes - Consolidated gross billings reached $22.7 billion, growing 12%, or 10% in constant currency, with non-GAAP diluted earnings per share of $3.58, a 25% year-over-year increase [3][4][10] - Net revenue was $15.7 billion, up 7% year-over-year, with gross profit increasing 18% to $1.1 billion [12][14] - Non-GAAP operating income rose 21% year-over-year to $475 million, with a non-GAAP operating margin of 2.09%, representing a 15 basis point improvement [13][14] Business Line Data and Key Metrics Changes - The Endpoint Solutions portfolio saw a 10% year-over-year increase in gross billings, driven by demand for PCs and a higher mix of AI PCs [10][11] - Advanced Solutions portfolio gross billings increased by 13% year-over-year, with HYVE reporting mid-30s growth due to strong demand in cloud infrastructure [11][12] - Software gross billings increased by 26%, driven by cybersecurity and infrastructure software [4] Market Data and Key Metrics Changes - Latin America and Asia Pacific & Japan experienced strong double-digit growth in gross billings, validating the company's go-to-market strategy [5] - The U.S. public sector business saw low single-digit growth, with state and local strength offset by federal softness [6] Company Strategy and Development Direction - The company is enhancing its Destination AI Enablement Program to support partners in adopting AI solutions [7] - A unified portal, TD SYNNEX PartnerFirst, was launched to optimize partner experience and streamline operations [9] - The company continues to onboard new vendors and expand its addressable market, particularly in cybersecurity [6][7] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in continued demand for HYVE and distribution, with expectations for strong performance in Q4 [19][30] - The company anticipates gross billings in Q4 to be between $23 billion and $24 billion, representing an approximate 11% increase at the midpoint [16] Other Important Information - Free cash flow for the year is expected to be approximately $800 million, with Q4 free cash flow projected around $850 million [24][25] - The board approved a cash dividend of $0.44 per common share, payable on October 31, 2025 [15] Q&A Session Summary Question: Insights on HYVE dynamics in fiscal forecast - Management noted significant growth across all programs and customers, with confidence in continued demand for Q4 [19][20] Question: Comments on PC pull forward and free cash flow expectations - Management indicated limited pull forward for PCs, driven mainly by the Windows 11 refresh and AI PCs, with free cash flow expectations adjusted to approximately $800 million for the year [22][24] Question: Sustainability of current performance - Management believes the overperformance is sustainable, driven by strong demand in PCs, software, and cybersecurity [30] Question: Progress in onboarding new customers for HYVE - Management reported healthy progress in diversifying the customer base, with growth primarily from networking and traditional compute [32][34]