Synnex's(2347TW) Q3 revenue break 100 billion mark, reaching a new high for four consecutive quarter, with annual growth of 17%

Synnex's revenue in the third quarter was NT$109.0 billion, standing at the 100 billion mark for the fifth consecutive quarter. It was also the fourth consecutive quarter to set a new record, with an annual increase of 7%. The cumulative revenue for the first nine months of this year reached NT$313.2 billion, which also hit a record high, with double-digit growth over the same period last year, an annual increase of 10%.


Since the second quarter of this year, the epidemic, China's lockdown, inflation, and interest rate raised have significantly affected the overall market's consumer confidence. However, with the strong physique established by the Agility and Leap Forward projects in recent years, Synnex's performance is still quite stable, in particular, the Management Service Platform that has been actively developed this year has highlighted its value in the turbulent environment. Driven by Synnex's revenue in the first three quarters of this year, it not only continued to stand at the 100 billion mark, but also rose quarter by quarter, and set a new record for the same period.


Synnex's third-quarter revenue was NT$109.0 billion, the highest for the same period and the second highest in a single quarter, with an annual increase of 7%. The IT Commercial business grew by 13% in the third quarter, and set a record for seven consecutive quarters. Among them, data center-related products have grown by 50%, and products such as network information security, cloud services and AIoT have also showed double-digit growth. The Semiconductor business actively develops in new service platform, fully demonstrates the function of balancing supply and demand, and is widely praised by the upstream and downstream of the supply chain. New customers continue to join, driving a substantial growth of 21% in revenue in the third quarter, and setting a record for three consecutive quarters to rewrite the history of a single quarter new high record. As expected, the IT Consumption and Telecom businesses were affected by inflation and the shrinking of terminal purchases, with a decrease of 7% and a slight increase of 1% respectively.


The accumulated revenue for the first nine months of this year was NT$313.2 billion, setting a historical record of breaking the 300 billion level for the first time in the first three quarters, with an annual increase of 10%. Among them, the IT Commercial and Semiconductor business both hit record highs in the same period. And all regions, except China, also hit new highs in the same period and achieved double-digit annual growth.