ON Semiconductor (ON) Revenue — Quarter Ended Dec 31, 2023
Revenue for the quarter declined compared to both the prior quarter and the same quarter a year earlier. The sequential decrease was steeper than the year-over-year decline.
Key takeaway
Quarter ended Dec 31, 2023 · FY2023 Q4
Revenue for the quarter declined compared to both the prior quarter and the same quarter a year earlier. The sequential decrease was steeper than the year-over-year decline.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$2B
Revenue reported for this quarter.
Quarter-over-quarter
-7.5%
Change from the immediately preceding quarter.
Year-over-year
-4.1%
Change from the comparable year-ago quarter.
Trailing four quarters
$8.3B
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 | $2B | +0.8% |
| Jun 30, 2023 | $2.1B | +0.5% |
| Sep 29, 2023 | $2.2B | -0.5% |
| Dec 31, 2023 | $2B | -4.1% |
Revenue performance
The reported revenue moved downward from the immediately preceding quarter, marking a continuation of the decelerating trend observed over the past two quarters.
Quarterly comparison
Compared with the same quarter one year earlier, revenue was lower, though the year-over-year contraction was less pronounced than the sequential drop. The trailing twelve-month revenue remained above the level of the current quarter alone.
What to watch
The sequential revenue decline accelerated from the prior quarter's slight decrease, warranting attention to the pace of the downturn.