General Mills (GIS) Revenue — Quarter Ended Nov 26, 2023
Revenue grew sequentially from the previous quarter, but declined compared to the same quarter last year. This mixed performance reflects a seasonal uptick offset by a lingering year-over-year contraction.
Key takeaway
Quarter ended Nov 26, 2023 · FY2024 Q2
Revenue grew sequentially from the previous quarter, but declined compared to the same quarter last year. This mixed performance reflects a seasonal uptick offset by a lingering year-over-year contraction.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$5.1B
Revenue reported for this quarter.
Quarter-over-quarter
+4.8%
Change from the immediately preceding quarter.
Year-over-year
-1.6%
Change from the comparable year-ago quarter.
Trailing four quarters
$20.2B
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 |
|---|---|---|
| Feb 26, 2023 | $5.1B | +13.0% |
| May 28, 2023 | $5B | +2.8% |
| Aug 27, 2023 | $4.9B | +4.0% |
| Nov 26, 2023 | $5.1B | -1.6% |
Revenue performance
The reported revenue rose versus the immediate prior quarter, yet was lower than the year-ago period. The sequential improvement suggests a rebound from the prior period's level.
Quarterly comparison
Compared with the preceding quarter, revenue increased. However, relative to the same quarter one year earlier, revenue decreased.
What to watch
Monitor whether the sequential revenue growth can be sustained amid the year-over-year decline.