Corning (GLW) Revenue — Quarter Ended Mar 31, 2023
Revenue declined from the prior quarter and from the same quarter last year, continuing a multi-quarter downward trend. The sequential and year-over-year decreases were both notable.
Key takeaway
Quarter ended Mar 31, 2023 · FY2023 Q1
Revenue declined from the prior quarter and from the same quarter last year, continuing a multi-quarter downward trend. The sequential and year-over-year decreases were both notable.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$3.2B
Revenue reported for this quarter.
Quarter-over-quarter
-6.7%
Change from the immediately preceding quarter.
Year-over-year
-13.6%
Change from the comparable year-ago quarter.
Trailing four quarters
$13.7B
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 | $3.6B | +3.3% |
| Sep 30, 2022 | $3.5B | -3.5% |
| Dec 31, 2022 | $3.4B | -7.3% |
| Mar 31, 2023 | $3.2B | -13.6% |
Revenue performance
The company reported lower revenue this quarter compared to both the immediately preceding quarter and the year-ago period. This marks the third consecutive quarter of declining sales.
Quarterly comparison
Compared to the prior quarter, revenue decreased, and versus the same quarter one year earlier, the decline was more pronounced. The trend shows a steady erosion in top-line performance.
What to watch
Monitor whether the company can stabilize revenue in the coming quarters amid the ongoing decline.