TD Synnex reported record fiscal Q2 2026 results, with revenue reaching $19.6 billion, a 31% year-over-year increase. Non-GAAP gross billings rose 33% to $28.9 billion, while non-GAAP earnings per share grew 62% to $4.85. Operating income reached $615 million, up 49% compared to the previous year.
The company's subsidiary, Hyve Solutions, which specializes in infrastructure for hyperscale data centers, reported $5.5 billion in gross billings, marking a 117% year-over-year increase. This unit integrates data center systems, shifting the company's role from a logistics partner to an infrastructure builder.
TD Synnex secured a strategic partnership as one of two global distributors for the full HPE portfolio, including networking, cloud, and AI products, following HPE's acquisition of Juniper Networks. This agreement expands the company's access to AI-optimized networking equipment.
Following the earnings report, TD Synnex shares surged over 50%. By early September 2026, the stock traded near $250, reflecting year-to-date gains exceeding 60%. Analysts have adjusted their price targets to approximately $285 per share.
For the third fiscal quarter of 2026, the company projects revenue of about $18.6 billion and non-GAAP gross billings of approximately $27.7 billion, representing roughly 22% growth at the midpoint.
