Microchip Technology (MCHP) Revenue — Quarter Ended Dec 31, 2023
Revenue declined in the December quarter compared with both the prior quarter and the same quarter a year earlier. The decrease reflects weaker global business conditions and customer inventory reductions.
Key takeaway
Quarter ended Dec 31, 2023 · FY2024 Q3
Revenue declined in the December quarter compared with both the prior quarter and the same quarter a year earlier. The decrease reflects weaker global business conditions and customer inventory reductions.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$1.8B
Revenue reported for this quarter.
Quarter-over-quarter
-21.7%
Change from the immediately preceding quarter.
Year-over-year
-18.6%
Change from the comparable year-ago quarter.
Trailing four quarters
$8.5B
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 |
|---|---|---|
| Mar 31, 2023 | $2.2B | +21.1% |
| Jun 30, 2023 | $2.3B | +16.6% |
| Sep 30, 2023 | $2.3B | +8.7% |
| Dec 31, 2023 | $1.8B | -18.6% |
Revenue performance
Reported revenue fell from the immediately preceding quarter, continuing a reversal from the growth trend seen in earlier quarters of the fiscal year.
Quarterly comparison
Compared with the same quarter one year earlier, revenue was lower. The sequential decline was steeper than the year-over-year decline.
What to watch
The company expects weak business conditions to persist in the following quarter, with planned production reductions and shutdown days.