Analog Devices (ADI) Revenue — Quarter Ended Jul 29, 2023
Revenue for the quarter declined compared to both the immediately preceding quarter and the same quarter one year earlier. The sequential decrease was more pronounced than the year-over-year decline.
Key takeaway
Quarter ended Jul 29, 2023 · FY2023 Q3
Revenue for the quarter declined compared to both the immediately preceding quarter and the same quarter one year earlier. The sequential decrease was more pronounced than the year-over-year decline.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$3.1B
Revenue reported for this quarter.
Quarter-over-quarter
-5.7%
Change from the immediately preceding quarter.
Year-over-year
-1.1%
Change from the comparable year-ago quarter.
Trailing four quarters
$12.8B
Sum of the latest four reported quarters.
Quarterly revenue trend
The latest four reported quarters with year-over-year comparisons.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Oct 29, 2022 | $3.2B | +38.8% |
| Jan 28, 2023 | $3.2B | +21.1% |
| Apr 29, 2023 | $3.3B | +9.8% |
| Jul 29, 2023 | $3.1B | -1.1% |
Revenue performance
Reported revenue moved lower, reversing the growth trend seen in the prior three quarters. The gross margin also contracted relative to the same period last year.
Quarterly comparison
Compared with the immediately preceding quarter, revenue fell. Versus the same quarter one year earlier, revenue was also lower, though the year-over-year decline was smaller than the sequential drop.
What to watch
Monitor whether the sequential revenue decline continues or stabilizes in the coming quarters.