TE Connectivity (TEL) Revenue — Quarter Ended Mar 31, 2023
Revenue for the quarter increased compared to both the prior quarter and the same quarter last year. The trend reflects a recovery from the prior quarter's level.
Key takeaway
Quarter ended Mar 31, 2023 · FY2023 Q2
Revenue for the quarter increased compared to both the prior quarter and the same quarter last year. The trend reflects a recovery from the prior quarter's level.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$4.2B
Revenue reported for this quarter.
Quarter-over-quarter
+8.3%
Change from the immediately preceding quarter.
Year-over-year
+3.8%
Change from the comparable year-ago quarter.
Trailing four quarters
$16.5B
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 24, 2022 | $4.1B | +6.6% |
| Sep 30, 2022 | $4.4B | +14.2% |
| Dec 30, 2022 | $3.8B | +0.6% |
| Mar 31, 2023 | $4.2B | +3.8% |
Revenue performance
Net sales rose from the preceding quarter and also exceeded the amount reported a year earlier. This marks the second straight quarter of year-over-year growth.
Quarterly comparison
Compared to the immediately preceding quarter, revenue improved. Versus the same quarter one year ago, revenue was also higher, continuing an upward trajectory from the prior year.
What to watch
The sequential increase follows a decline in the prior quarter; sustainability of this momentum may warrant attention.