Otis Worldwide (OTIS) Revenue — Quarter Ended Sep 30, 2024
Revenue for the quarter declined compared to the immediately preceding quarter but rose slightly versus the same quarter one year earlier. The sequential decrease was driven by lower product sales, while service sales continued to grow.
Key takeaway
Quarter ended Sep 30, 2024 · FY2024 Q3
Revenue for the quarter declined compared to the immediately preceding quarter but rose slightly versus the same quarter one year earlier. The sequential decrease was driven by lower product sales, while service sales continued to grow.
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
-1.5%
Change from the immediately preceding quarter.
Year-over-year
+0.7%
Change from the comparable year-ago quarter.
Trailing four quarters
$14.2B
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 |
|---|---|---|
| Dec 31, 2023 | $3.6B | +5.3% |
| Mar 31, 2024 | $3.4B | +2.7% |
| Jun 30, 2024 | $3.6B | -3.2% |
| Sep 30, 2024 | $3.5B | +0.7% |
Revenue performance
Reported revenue moved lower from the prior quarter, reflecting a decline in product sales that outweighed growth in service sales.
Quarterly comparison
Compared with the immediately preceding quarter, revenue decreased. Compared with the same quarter one year earlier, revenue increased modestly.
What to watch
The ongoing shift in revenue mix toward service sales may continue to influence overall revenue trends.