Synnex announced its financial results for the third quarter of 2025, reporting consolidated revenue of NT$100.2 billion, down 8% year-over-year due to the significant appreciation of the New Taiwan dollar, but up 7% quarter-over-quarter. After-tax net profit reached NT$2.6 billion, representing a 14% increase from the previous year and a 95% surge from Q2, with earnings per share (EPS) of NT$1.54. For the first three quarters of 2025, consolidated revenue totaled NT$284.9 billion, and after-tax net profit reached NT$5.7 billion, with EPS of NT$3.42.
Although third-quarter revenue decline 8% year-over-year, on a constant-currency basis it edged up 1%. The overall decrease was mainly due to weak consumer confidence and sluggish demand in China, where both commercial and consumer product sales dropped more than 20%. In contrast, other regions posted solid results. Taiwan stood out, with revenue surging 36% year-over-year, driven by strong AI server orders and the launch of new Samsung smartphones. Australia and New Zealand achieved record-high third-quarter revenue, up 13%, supported by the Windows PC replacement cycle. Indonesia posted its sixth consecutive quarterly record, with robust smartphone sales offsetting softer enterprise demand affected by government budget reallocation, resulting in a modest 2% year-over-year increase. Meanwhile, the Semiconductor Business delivered its second-highest Q3 revenue on record, just slightly below last year's peak.
On the profitability front, third-quarter gross profit reached NT$4.1 billion, while operating expenses decreased 7% year-over-year to NT$2.0 billion, resulting in operating income of NT$2.1 billion. Investment income increase significantly, supported by strong contributions from joint ventures in Thailand, India, and the Middle East/Africa, with Thailand up 37% and India/Middle East/Africa up 12%. Benefiting from higher investment income, pre-tax profit rose 11% year-over-year to NT$3.7 billion, and after-tax profit grew 14% to NT$2.6 billion, with EPS of NT$1.54.
For the first three quarters of 2025, consolidated revenue reached NT$284.9 billion, gross profit NT$12.1 billion, operating expenses NT$6.8 billion, and operating income NT$5.4 billion. Pre-tax profit totaled NT$8.0 billion, after-tax profit NT$5.7 billion, and EPS stood at NT$3.42.
Looking ahead to the fourth quarter, while demand in China has yet to recovery, overall momentum is expected to strengthen with the arrival of the year-end peak season, ongoing PC replacement cycle, and expanding adoption of AI applications. Synnex will continue to enhance its high-value business portfolio and optimize operational efficiency to further improve profitability.