Johnson & Johnson (JNJ) Revenue — Quarter Ended Jul 2, 2023
Revenue increased compared to the immediately preceding quarter but declined sharply from the same quarter one year earlier. The sequential growth was driven by operational improvements, while the year-over-year drop reflects a significant change in business composition.
Key takeaway
Quarter ended Jul 2, 2023 · FY2023 Q2
Revenue increased compared to the immediately preceding quarter but declined sharply from the same quarter one year earlier. The sequential growth was driven by operational improvements, while the year-over-year drop reflects a significant change in business composition.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$21.5B
Revenue reported for this quarter.
Quarter-over-quarter
+3.0%
Change from the immediately preceding quarter.
Year-over-year
-22.0%
Change from the comparable year-ago quarter.
Trailing four quarters
$75B
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 |
|---|---|---|
| Oct 2, 2022 | $12.6B | -46.0% |
| Jan 1, 2023 | $19.9B | +104.1% |
| Apr 2, 2023 | $20.9B | +5.3% |
| Jul 2, 2023 | $21.5B | -22.0% |
Revenue performance
Reported revenue rose from the prior quarter, continuing an upward trend seen in recent periods. However, the year-over-year comparison shows a substantial contraction.
Quarterly comparison
Compared to the immediately preceding quarter, revenue increased, reversing the prior period's decline. Relative to the same quarter one year earlier, revenue was significantly lower, marking the largest year-over-year drop in the available trend data.
What to watch
Monitor whether the year-over-year revenue decline stabilizes or deepens in upcoming quarters.