Vertex Pharmaceuticals (VRTX) Revenue — Quarter Ended Mar 31, 2023
Revenue rose from the prior quarter and increased compared with the same quarter a year ago. The sequential growth represented a continuation of the upward trajectory seen in the trailing four quarters.
Key takeaway
Quarter ended Mar 31, 2023 · FY2023 Q1
Revenue rose from the prior quarter and increased compared with the same quarter a year ago. The sequential growth represented a continuation of the upward trajectory seen in the trailing four quarters.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$2.4B
Revenue reported for this quarter.
Quarter-over-quarter
+3.1%
Change from the immediately preceding quarter.
Year-over-year
+13.2%
Change from the comparable year-ago quarter.
Trailing four quarters
$9.2B
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 | $2.2B | +22.5% |
| Sep 30, 2022 | $2.3B | +17.7% |
| Dec 31, 2022 | $2.3B | +11.1% |
| Mar 31, 2023 | $2.4B | +13.2% |
Revenue performance
Reported revenue was higher than the immediately preceding quarter, marking another period of sequential expansion.
Quarterly comparison
Compared with the same three-month period one year earlier, revenue showed a notable increase. The year-over-year growth rate was the largest among the four most recent quarters.
What to watch
The filing notes a decrease in working capital primarily due to increased investment in long-term marketable securities and share repurchases.