Microchip Technology (MCHP) Revenue — Quarter Ended Jun 30, 2023
Revenue increased in the June quarter, continuing the upward trajectory from the prior quarter. The growth rate moderated compared to the same quarter last year.
Key takeaway
Quarter ended Jun 30, 2023 · FY2024 Q1
Revenue increased in the June quarter, continuing the upward trajectory from the prior quarter. The growth rate moderated compared to the same quarter last year.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$2.3B
Revenue reported for this quarter.
Quarter-over-quarter
+2.5%
Change from the immediately preceding quarter.
Year-over-year
+16.6%
Change from the comparable year-ago quarter.
Trailing four quarters
$8.8B
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 |
|---|---|---|
| Sep 30, 2022 | $2.1B | +25.7% |
| Dec 31, 2022 | $2.2B | +23.4% |
| Mar 31, 2023 | $2.2B | +21.1% |
| Jun 30, 2023 | $2.3B | +16.6% |
Revenue performance
The reported revenue rose from the immediately preceding quarter, marking a sequential gain. On a year-over-year basis, revenue was also higher, though the pace of expansion slowed relative to the prior-year period.
Quarterly comparison
Compared to the March quarter, revenue improved, reflecting continued demand. Versus the same quarter a year ago, revenue was up, but the percentage increase was smaller than in the prior sequential quarter.
What to watch
The filing notes unfavorable conditions in China distribution channels and signs of weakness in automotive and industrial markets, which may affect future revenue.