First Solar (FSLR) Revenue — Quarter Ended Mar 31, 2023
Revenue for the reported quarter declined sequentially but increased compared to the same period last year. The sequential decrease followed a substantially higher preceding quarter, while the year-over-year gain highlights growth from the prior year.
Key takeaway
Quarter ended Mar 31, 2023 · FY2023 Q1
Revenue for the reported quarter declined sequentially but increased compared to the same period last year. The sequential decrease followed a substantially higher preceding quarter, while the year-over-year gain highlights growth from the prior year.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$548.3M
Revenue reported for this quarter.
Quarter-over-quarter
-45.3%
Change from the immediately preceding quarter.
Year-over-year
+49.4%
Change from the comparable year-ago quarter.
Trailing four quarters
$2.8B
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 |
|---|---|---|
| Jun 30, 2022 | $621M | -1.3% |
| Sep 30, 2022 | $628.9M | +7.8% |
| Dec 31, 2022 | $1B | +10.5% |
| Mar 31, 2023 | $548.3M | +49.4% |
Revenue performance
Quarterly revenue contracted from the prior quarter, while expanding relative to the same quarter one year ago.
Quarterly comparison
Compared to the immediately preceding quarter, revenue experienced a steep drop. In contrast, compared to the same quarter a year earlier, revenue rose considerably.
What to watch
Capital expenditures and advance payments for raw materials reduced the company's cash holdings during the quarter.