TD SYNNEX Corporation (NYSE:SNX) Q2 2023 Earnings Call Transcript

Marshall Witt: And then the final thing I’ll say, which we say quite often to you, Matt, is that if you look at the annualized trailing 12 performance of Hyve for the last three years, they continue to show growth in top line and bottom line.

Matt Sheerin: Okay. Very helpful. Thanks a lot.

Operator: Our final question today is from Ashish Sabadra with RBC Capital Markets.

Unidentified Participant: This is Patrick Jackson on for Ashish. Thank you for taking the question. In Europe, it’s great to hear about the continued share gains. Could you share a bit more how trends have developed across Advanced Solutions and End Point in that region? And for your mobile distribution business in Europe that you mentioned earlier, could you talk about how demand has trended in the quarter and what you have seen from a supply chain perspective? Thank you.

Rich Hume: Sure. It’s been an ongoing narrative for our business that the impacts of the PC ecosystem or End Point Solutions have been more significant in the Americas versus Europe. So although Europe has experienced declines in End Point Solutions, they have been much lower declines than in the Americas. As it relates to the mobile phone piece, it has been performing reasonably well. We have two providers that we are engaged with over there. And I’d say the demand has been reasonably solid over time. And we wouldn’t anticipate any major change in that trajectory moving forward. And then lastly, from an Advanced Solutions perspective, the benefit of good growth in Advanced Solutions is sort of consistent globally, where each one of the regions are seeing that trend.

So I wouldn’t say that it’s out of the norm, Europe versus the rest of the world there. But I would say just being a little bit repetitive that in the last — in the first half of the year, the outsized declines in PC ecosystem have been within the Americas.

Unidentified Participant: Thank you.

Rich Hume: Thank you.

Operator: This conclude our question-and-answer session. I’ll turn it over to Rich Hume for any closing comments.

Rich Hume: So first, thanks to all of you for attending the call today. In closing, I want to thank our coworkers around the world for their persistence and can-do attitudes and staying focused and making sure that we keep at the forefront the success of our vendors and customers which we rely upon to drive our business moving forward. Thanks to all of you for joining. And I hope you have a great day.

Operator: This concludes today’s conference call. You may now disconnect. Have a nice day.