3M (MMM) Revenue — Quarter Ended Mar 31, 2023
Revenue for the quarter decreased compared to the same period last year. However, it increased substantially from the immediately preceding quarter.
Key takeaway
Quarter ended Mar 31, 2023 · FY2023 Q1
Revenue for the quarter decreased compared to the same period last year. However, it increased substantially from the immediately preceding quarter.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$6.1B
Revenue reported for this quarter.
Quarter-over-quarter
+54945.5%
Change from the immediately preceding quarter.
Year-over-year
-31.4%
Change from the comparable year-ago quarter.
Trailing four quarters
$23.4B
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, 2022 | $8.7B | -2.8% |
| Sep 30, 2022 | $8.6B | -3.6% |
| Dec 31, 2022 | $11M | -99.9% |
| Mar 31, 2023 | $6.1B | -31.4% |
Revenue performance
The reported revenue for this quarter was lower than the year-ago level, reflecting a decline. Compared to the prior quarter, the revenue showed a marked improvement.
Quarterly comparison
Relative to the same quarter one year earlier, revenue was down. In contrast, revenue was significantly higher than the prior quarter's figure.
What to watch
The sharp fluctuations in quarterly revenue suggest continued attention to the company's revenue trajectory.