Seagate Technology Holdings (STX) Revenue — Quarter Ended Mar 31, 2023
Revenue declined in the current quarter. The decrease was modest compared to the prior quarter but substantial versus the same quarter one year earlier.
Key takeaway
Quarter ended Mar 31, 2023 · FY2023 Q3
Revenue declined in the current quarter. The decrease was modest compared to the prior quarter but substantial versus the same quarter one year earlier.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$1.9B
Revenue reported for this quarter.
Quarter-over-quarter
-1.4%
Change from the immediately preceding quarter.
Year-over-year
-33.6%
Change from the comparable year-ago quarter.
Trailing four quarters
$8.4B
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 1, 2022 | $2.6B | -12.8% |
| Sep 30, 2022 | $2B | -34.7% |
| Dec 30, 2022 | $1.9B | -39.4% |
| Mar 31, 2023 | $1.9B | -33.6% |
Revenue performance
The reported revenue moved lower, reflecting a continued downward trend from the preceding quarter. The decline was driven by weaker performance relative to the prior year period.
Quarterly comparison
Compared to the immediately preceding quarter, revenue saw a slight decrease. On a year-over-year basis, the decline was significantly steeper, highlighting a sharp contraction from the same period last year.
What to watch
The persistent decline in revenue over the recent quarters warrants monitoring for potential further deterioration.