Otis Worldwide (OTIS) Revenue — Quarter Ended Sep 30, 2023
Revenue declined from the prior quarter but rose compared with the same quarter a year earlier. The sequential decrease followed a strong prior period, while the year-over-year gain reflected continued growth.
Key takeaway
Quarter ended Sep 30, 2023 · FY2023 Q3
Revenue declined from the prior quarter but rose compared with the same quarter a year earlier. The sequential decrease followed a strong prior period, while the year-over-year gain reflected continued growth.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$3.5B
Revenue reported for this quarter.
Quarter-over-quarter
-5.3%
Change from the immediately preceding quarter.
Year-over-year
+5.4%
Change from the comparable year-ago quarter.
Trailing four quarters
$14B
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 |
|---|---|---|
| Dec 31, 2022 | $3.4B | -3.6% |
| Mar 31, 2023 | $3.3B | -2.0% |
| Jun 30, 2023 | $3.7B | +6.7% |
| Sep 30, 2023 | $3.5B | +5.4% |
Revenue performance
The reported revenue for the quarter was lower than the immediately preceding quarter, marking a reversal from the prior period's increase.
Quarterly comparison
Compared with the same quarter one year earlier, revenue was higher, extending the year-over-year growth trend. The sequential decline contrasts with the prior quarter's sequential gain.
What to watch
Monitor whether the sequential decline signals a demand shift or is a temporary fluctuation after a strong prior quarter.