Public Storage (PSA) Revenue — Quarter Ended Jun 30, 2024
Revenue for the quarter increased compared to both the immediately preceding quarter and the same quarter one year earlier. The sequential rise was supported by ongoing operations, while the year-over-year gain reflected sustained demand.
Key takeaway
Quarter ended Jun 30, 2024 · FY2024 Q2
Revenue for the quarter increased compared to both the immediately preceding quarter and the same quarter one year earlier. The sequential rise was supported by ongoing operations, while the year-over-year gain reflected sustained demand.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$1.2B
Revenue reported for this quarter.
Quarter-over-quarter
+1.4%
Change from the immediately preceding quarter.
Year-over-year
+4.8%
Change from the comparable year-ago quarter.
Trailing four quarters
$4.6B
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 |
|---|---|---|
| Sep 30, 2023 | $1.1B | +5.1% |
| Dec 31, 2023 | $1.2B | +6.6% |
| Mar 31, 2024 | $1.2B | +5.8% |
| Jun 30, 2024 | $1.2B | +4.8% |
Revenue performance
Revenue moved higher from the prior quarter, marking a continuation of the upward trend. The year-over-year comparison also showed an increase, though the pace of annual growth has moderated relative to recent quarters.
Quarterly comparison
Compared to the preceding quarter, revenue rose, and compared to the same quarter a year ago, revenue also increased. The sequential change was smaller than the year-over-year change.
What to watch
The year-over-year growth rate has declined for the second consecutive quarter, suggesting a potential deceleration in revenue momentum.