Revvity (RVTY) Revenue — Quarter Ended Mar 31, 2024
Revvity's total revenue declined this quarter relative to the prior quarter and the same quarter last year. The decrease was driven by a drop in product revenue, partly offset by a slight rise in service revenue.
Key takeaway
Quarter ended Mar 31, 2024 · FY2024 Q1
Revvity's total revenue declined this quarter relative to the prior quarter and the same quarter last year. The decrease was driven by a drop in product revenue, partly offset by a slight rise in service revenue.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$649.9M
Revenue reported for this quarter.
Quarter-over-quarter
-6.6%
Change from the immediately preceding quarter.
Year-over-year
-3.7%
Change from the comparable year-ago quarter.
Trailing four quarters
$2.7B
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 |
|---|---|---|
| Jul 2, 2023 | $709.1M | -20.8% |
| Oct 1, 2023 | $670.7M | -5.8% |
| Dec 31, 2023 | $695.9M | -6.1% |
| Mar 31, 2024 | $649.9M | -3.7% |
Revenue performance
Total revenue fell, with product revenue declining year over year while service revenue increased.
Quarterly comparison
Sequentially, revenue was lower than the previous quarter. On a year-over-year basis, revenue also decreased.
What to watch
The company's revenue has been trending downward over recent quarters, which may warrant continued monitoring.