Otis Worldwide (OTIS) Revenue — Quarter Ended Mar 31, 2024
Revenue declined from the prior quarter but rose compared with the same quarter a year earlier. The sequential decrease reflects a typical seasonal pattern, while the year-over-year gain indicates underlying growth.
Key takeaway
Quarter ended Mar 31, 2024 · FY2024 Q1
Revenue declined from the prior quarter but rose compared with the same quarter a year earlier. The sequential decrease reflects a typical seasonal pattern, while the year-over-year gain indicates underlying growth.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$3.4B
Revenue reported for this quarter.
Quarter-over-quarter
-5.1%
Change from the immediately preceding quarter.
Year-over-year
+2.7%
Change from the comparable year-ago quarter.
Trailing four quarters
$14.3B
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 |
|---|---|---|
| Jun 30, 2023 | $3.7B | +6.7% |
| Sep 30, 2023 | $3.5B | +5.4% |
| Dec 31, 2023 | $3.6B | +5.3% |
| Mar 31, 2024 | $3.4B | +2.7% |
Revenue performance
Reported revenue moved lower from the immediately preceding quarter, marking a reversal from the prior quarter's increase. The year-over-year comparison, however, showed an improvement.
Quarterly comparison
Compared with the prior quarter, revenue contracted. Compared with the same quarter one year earlier, revenue expanded.
What to watch
Monitor whether the sequential decline continues into the next quarter or stabilizes.