Microchip Technology (MCHP) Revenue — Quarter Ended Jun 30, 2024
Revenue declined in the current quarter. The decrease was smaller than the prior quarter's drop but remained steep compared with the same quarter last year.
Key takeaway
Quarter ended Jun 30, 2024 · FY2025 Q1
Revenue declined in the current quarter. The decrease was smaller than the prior quarter's drop but remained steep compared with the same quarter last year.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$1.2B
Revenue reported for this quarter.
Quarter-over-quarter
-6.4%
Change from the immediately preceding quarter.
Year-over-year
-45.8%
Change from the comparable year-ago quarter.
Trailing four quarters
$6.6B
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 |
|---|---|---|
| Sep 30, 2023 | $2.3B | +8.7% |
| Dec 31, 2023 | $1.8B | -18.6% |
| Mar 31, 2024 | $1.3B | -40.6% |
| Jun 30, 2024 | $1.2B | -45.8% |
Revenue performance
Revenue fell from the immediately preceding quarter, continuing a downward trend. The year-over-year comparison showed a substantial decline.
Quarterly comparison
Compared with the prior quarter, the rate of decline moderated. Relative to the same quarter one year earlier, the revenue contraction was much larger.
What to watch
The filing notes that the macroeconomic environment remained weak, with customers continuing to reduce inventory levels.