Chevron (CVX) Revenue — Quarter Ended Sep 30, 2023
Revenue for the quarter increased sequentially but declined compared to the same period last year. The sequential improvement reversed the prior quarter's decrease, while the year-over-year drop continued a trend of lower revenue versus the prior year.
Key takeaway
Quarter ended Sep 30, 2023 · FY2023 Q3
Revenue for the quarter increased sequentially but declined compared to the same period last year. The sequential improvement reversed the prior quarter's decrease, while the year-over-year drop continued a trend of lower revenue versus the prior year.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$51.9B
Revenue reported for this quarter.
Quarter-over-quarter
+10.0%
Change from the immediately preceding quarter.
Year-over-year
-18.2%
Change from the comparable year-ago quarter.
Trailing four quarters
$202.5B
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 |
|---|---|---|
| Dec 31, 2022 | $54.5B | +18.9% |
| Mar 31, 2023 | $48.8B | -6.6% |
| Jun 30, 2023 | $47.2B | -27.8% |
| Sep 30, 2023 | $51.9B | -18.2% |
Revenue performance
The reported revenue reflects a sequential recovery after two quarters of decline, though it remains below the level of a year ago.
Quarterly comparison
Compared to the immediately preceding quarter, revenue rose, marking a positive sequential change. However, relative to the same quarter one year earlier, revenue was lower.
What to watch
The company's operating cash flow for the first nine months was lower than the year-ago period, and capital expenditures increased.