TD Synnex's stock was soaring 5.14% during intraday trading on Tuesday, following the release of the company's fiscal first-quarter results.

The significant price movement comes after TD Synnex reported adjusted earnings per share of $4.73, substantially beating the analyst consensus estimate of $3.31. Revenue for the quarter reached $17.16 billion, also surpassing expectations of $15.59 billion and marking an 18% increase from the prior year. The company attributed the strong results to robust performance across both its distribution and Hyve Solutions business segments.

Further fueling investor optimism, TD Synnex provided second-quarter guidance that exceeded Wall Street forecasts. The company projected adjusted EPS between $3.75 and $4.25, above the estimated $3.45, and revenue in the range of $16.1 billion to $16.9 billion, compared to the consensus of $15.8 billion.