Simon Property Group (SPG) Revenue — Quarter Ended Mar 31, 2024
Revenue for the quarter decreased relative to the immediately preceding period, reversing the prior sequential gain. However, revenue was higher compared to the same quarter one year earlier, continuing an annual growth trend.
Key takeaway
Quarter ended Mar 31, 2024 · FY2024 Q1
Revenue for the quarter decreased relative to the immediately preceding period, reversing the prior sequential gain. However, revenue was higher compared to the same quarter one year earlier, continuing an annual growth trend.
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
-5.6%
Change from the immediately preceding quarter.
Year-over-year
+6.8%
Change from the comparable year-ago quarter.
Trailing four quarters
$5.8B
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 | $1.4B | +7.0% |
| Sep 30, 2023 | $1.4B | +7.2% |
| Dec 31, 2023 | $1.5B | +9.1% |
| Mar 31, 2024 | $1.4B | +6.8% |
Revenue performance
The reported revenue declined from the prior quarter, ending a streak of sequential increases. The year-over-year comparison remained positive, indicating sustained annual expansion.
Quarterly comparison
Compared with the preceding quarter, revenue fell, while relative to the same period a year ago, revenue rose.
What to watch
Future quarters will show whether the sequential decline is a temporary fluctuation or the start of a new trend.