Simon Property Group (SPG) Revenue — Quarter Ended Mar 31, 2023
Revenue for the quarter declined compared to the prior quarter, but rose relative to the same period last year. The company's liquidity position strengthened with an increase in cash and cash equivalents.
Key takeaway
Quarter ended Mar 31, 2023 · FY2023 Q1
Revenue for the quarter declined compared to the prior quarter, but rose relative to the same period last year. The company's liquidity position strengthened with an increase in cash and cash equivalents.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$1.4B
Revenue reported for this quarter.
Quarter-over-quarter
-3.5%
Change from the immediately preceding quarter.
Year-over-year
+4.2%
Change from the comparable year-ago quarter.
Trailing four quarters
$5.3B
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, 2022 | $1.3B | +2.0% |
| Sep 30, 2022 | $1.3B | +1.5% |
| Dec 31, 2022 | $1.4B | +5.6% |
| Mar 31, 2023 | $1.4B | +4.2% |
Revenue performance
Revenue decreased from the immediately preceding quarter.
Quarterly comparison
Compared to the prior quarter, revenue was lower; however, it was higher than the same quarter a year earlier.
What to watch
The company's cash balance grew during the quarter, and its floating-rate debt remained a small share of total debt.