TE Connectivity (TEL) Revenue — Quarter Ended Jun 28, 2024
Revenue for the quarter came in slightly higher than the prior quarter but was marginally lower compared with the same period a year ago. The company noted in its outlook that sales in the Transportation Solutions segment are expected to face headwinds, partially offset by growth in Communications Solutions.
Key takeaway
Quarter ended Jun 28, 2024 · FY2024 Q3
Revenue for the quarter came in slightly higher than the prior quarter but was marginally lower compared with the same period a year ago. The company noted in its outlook that sales in the Transportation Solutions segment are expected to face headwinds, partially offset by growth in Communications Solutions.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$4B
Revenue reported for this quarter.
Quarter-over-quarter
+0.3%
Change from the immediately preceding quarter.
Year-over-year
-0.5%
Change from the comparable year-ago quarter.
Trailing four quarters
$15.8B
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 |
|---|---|---|
| Sep 29, 2023 | $4B | -7.4% |
| Dec 29, 2023 | $3.8B | -0.3% |
| Mar 29, 2024 | $4B | -4.6% |
| Jun 28, 2024 | $4B | -0.5% |
Revenue performance
Reported revenue for the current quarter increased versus the immediately preceding quarter, reflecting a sequential improvement. However, the year-over-year comparison showed a slight decline, indicating that revenue has not fully recovered to the level of the prior year's same quarter.
Quarterly comparison
Sequentially, revenue moved higher after a decline in the prior quarter. On an annual basis, revenue was slightly lower than the comparable quarter one year earlier, continuing a pattern of modest year-over-year contraction.
What to watch
Monitor whether the Transportation Solutions segment's expected decline materializes and how effectively Communications Solutions growth offsets it in the coming quarter.