Flex (FLEX) Revenue — Quarter Ended Sep 29, 2023
Revenue for the quarter was essentially unchanged from the prior quarter but declined significantly compared to the same period a year earlier. The year-over-year drop more than offset the modest sequential stability.
Key takeaway
Quarter ended Sep 29, 2023 · FY2024 Q2
Revenue for the quarter was essentially unchanged from the prior quarter but declined significantly compared to the same period a year earlier. The year-over-year drop more than offset the modest sequential stability.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$6.9B
Revenue reported for this quarter.
Quarter-over-quarter
+0.6%
Change from the immediately preceding quarter.
Year-over-year
-15.0%
Change from the comparable year-ago quarter.
Trailing four quarters
$28.6B
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 | $7.8B | +17.2% |
| Mar 31, 2023 | $7B | +1.9% |
| Jun 30, 2023 | $6.9B | -1.0% |
| Sep 29, 2023 | $6.9B | -15.0% |
Revenue performance
The company reported revenue that held steady relative to the immediately preceding quarter. However, when measured against the same quarter last year, revenue was markedly lower.
Quarterly comparison
On a sequential basis, revenue edged higher by a minimal margin. The annual comparison, however, revealed a substantial contraction.
What to watch
The company continues to monitor geopolitical conflicts, which have not yet materially affected operations but present ongoing uncertainty.