ConocoPhillips (COP) Revenue — Quarter Ended Jun 30, 2023
Revenue for the reported quarter declined compared with both the preceding quarter and the same period a year earlier. The downward trend reflects a continued contraction from the peak levels seen in the prior fiscal year.
Key takeaway
Quarter ended Jun 30, 2023 · FY2023 Q2
Revenue for the reported quarter declined compared with both the preceding quarter and the same period a year earlier. The downward trend reflects a continued contraction from the peak levels seen in the prior fiscal year.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$11B
Revenue reported for this quarter.
Quarter-over-quarter
-7.9%
Change from the immediately preceding quarter.
Year-over-year
-34.2%
Change from the comparable year-ago quarter.
Trailing four quarters
$52.8B
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 |
|---|---|---|
| Sep 30, 2022 | $16B | +79.8% |
| Dec 31, 2022 | $13.8B | +28.3% |
| Mar 31, 2023 | $12B | -17.5% |
| Jun 30, 2023 | $11B | -34.2% |
Revenue performance
Revenue decreased from the immediately preceding quarter and was significantly lower than the same quarter one year ago. The sequential and year-over-year declines were both material.
Quarterly comparison
Compared with the prior quarter, revenue fell, and the drop versus the same quarter one year earlier was even more pronounced. The decline from the prior year marks the steepest year-over-year decrease in the available trend.
What to watch
Revenue has now declined for two consecutive quarters, warranting attention to the trajectory of future performance.