Microchip Technology (MCHP) Revenue — Quarter Ended Mar 31, 2024
Revenue declined sharply in the current quarter. The decrease was steeper compared to both the prior quarter and the same quarter last year.
Key takeaway
Quarter ended Mar 31, 2024 · FY2024 Q4
Revenue declined sharply in the current quarter. The decrease was steeper compared to both the prior quarter and the same quarter last year.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$1.3B
Revenue reported for this quarter.
Quarter-over-quarter
-24.9%
Change from the immediately preceding quarter.
Year-over-year
-40.6%
Change from the comparable year-ago quarter.
Trailing four quarters
$7.6B
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, 2023 | $2.3B | +16.6% |
| Sep 30, 2023 | $2.3B | +8.7% |
| Dec 31, 2023 | $1.8B | -18.6% |
| Mar 31, 2024 | $1.3B | -40.6% |
Revenue performance
Reported revenue fell from the immediately preceding quarter, continuing a downward trend that began in the prior period.
Quarterly comparison
Compared with the same quarter one year earlier, revenue was significantly lower. The year-over-year decline was more pronounced than the sequential decline.
What to watch
The sequential revenue decline accelerated from the prior quarter, warranting attention to demand trends.