Garmin (GRMN) Revenue — Quarter Ended Apr 1, 2023
Revenue declined compared to both the prior quarter and the same quarter last year. The decrease extends a pattern of sequential declines observed in recent periods.
Key takeaway
Quarter ended Apr 1, 2023 · FY2023 Q1
Revenue declined compared to both the prior quarter and the same quarter last year. The decrease extends a pattern of sequential declines observed in recent periods.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$1.1B
Revenue reported for this quarter.
Quarter-over-quarter
-12.2%
Change from the immediately preceding quarter.
Year-over-year
-2.2%
Change from the comparable year-ago quarter.
Trailing four quarters
$4.8B
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 25, 2022 | $1.2B | -6.5% |
| Sep 24, 2022 | $1.1B | -4.3% |
| Dec 31, 2022 | $1.3B | -6.1% |
| Apr 1, 2023 | $1.1B | -2.2% |
Revenue performance
The reported revenue was lower than the immediately preceding quarter and down from the same quarter one year earlier. The decline aligns with the negative trend seen over the past several quarters.
Quarterly comparison
Revenue fell relative to the prior quarter, and was also below the level achieved in the same quarter of the previous year.
What to watch
Operating cash flow increased year over year, per the filing context, which may merit attention alongside the revenue decline.