Since the beginning of this year, Synnex's sales momentum has continued to be strong, and its revenue has hit a high for three consecutive months, driving the first quarter revenue to reach NT$100.5 billion, reaching the 100 billion mark for three consecutive quarters. At the same time, it also set a historical record of breaking the 100 billion mark for the first time in a single quarter in the first half of the year, and increased by 16% compared with the same period last year.
In the first quarter of this year, despite the overall industry has a split outlook and unfavorable business environment, Synnex's revenue still well performed. Synnex said that the rigid demand for IT products from the government, enterprises and end users has not been affected at present. As long as the supply situation improves, the channel is still quite active in purchasing. At the same time, the Management Service Platform (MSP) that Synnex has accelerated its deployment in recent years has shown its benefits and value in the volatile market environment. It has won the favor and expanded adoption of upstream and downstream suppliers and customers, driving Synnex's market share to continue to increase and revenue to continue to grow.
In the first quarter, all of Synnex's four product segments, except for Telecom, experienced double-digit growth. Among them, the IC Component business has achieved a record high in the first quarter due to closer cooperation with the upstream and downstream of the supply chain, with revenue reaching NT$32.4 billion, a substantial increase of 20%. The IT Commercial business benefited from the continuous digital transformation of enterprise users and the strengthening of investment in network information security. It has hit a new high for the same period for five consecutive quarters, with revenue reaching NT$26.5 billion, an increase of 17%. In the IT Consumer business, due to the gradual relief of PC shortages and the steady economic demand for graphics cards and e-sports, the revenue was NT$37.3 billion, an annual increase of 14%, which was also a new high for the same period. The Telecom business fell slightly by 3% due to a weak market and poor supply.
From a regional perspective, all regions of Synnex recorded growth in the first quarter compared with last year, with Indonesia and Australia & New Zealand having the largest growth, which increased by 44% and 27% respectively compared with last year, and simultaneously hit new highs for the same period. Taiwan's growth rate was 14%. If only IT products were counted, the growth rate was 24%, which also hit a new high for the same period. China rose 7%, while Hong Kong edged up 1%.
Synnex's first quarter hit a record high for three consecutive months, while revenue growth climbed month by month. NT$33.6 billion in January, an increase of 7%. In February, due to the lack of working days, the revenue was NT$26.5 billion, but the annual increase was 19%, and the average daily revenue increased by 11% compared with January. In March, it reached NT$40.4 billion, which was the first time in the first half of the year that the monthly revenue exceeded 40 billion and reached the second highest in history, with an annual growth rate of 22%. IC Components, IT Commercial and IT Consumer businesses all hit new highs for the same period in March, as did Indonesia, Australia & New Zealand.
