ON Semiconductor (ON) Revenue — Quarter Ended Mar 29, 2024
Revenue declined in the current quarter compared to both the prior quarter and the same quarter a year ago. The decrease reflects a continuation of the downward trend observed over recent quarters.
Key takeaway
Quarter ended Mar 29, 2024 · FY2024 Q1
Revenue declined in the current quarter compared to both the prior quarter and the same quarter a year ago. The decrease reflects a continuation of the downward trend observed over recent quarters.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$1.9B
Revenue reported for this quarter.
Quarter-over-quarter
-7.7%
Change from the immediately preceding quarter.
Year-over-year
-4.9%
Change from the comparable year-ago quarter.
Trailing four quarters
$8.2B
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 | $2.1B | +0.5% |
| Sep 29, 2023 | $2.2B | -0.5% |
| Dec 31, 2023 | $2B | -4.1% |
| Mar 29, 2024 | $1.9B | -4.9% |
Revenue performance
The reported revenue for the quarter was lower than the preceding quarter, marking a sequential decline. Compared to the same quarter one year earlier, revenue also decreased.
Quarterly comparison
Revenue in the current quarter fell from the immediately preceding quarter and was also down from the same quarter one year earlier. The sequential and year-over-year comparisons both show a contraction.
What to watch
Monitor whether the revenue decline continues in subsequent quarters or stabilizes.