Seagate: Fiscal 2Q Earnings Snapshot

The results exceeded Wall Road expectations. The regular estimate of eight analysts surveyed by Zacks Expense Investigate was for earnings of $1.10 for each share.

The digital storage maker posted revenue of $2.62 billion in the period, which also topped Road forecasts. 6 analysts surveyed by Zacks predicted $2.55 billion.

For the latest quarter ending in April, Seagate expects its for each-share earnings to assortment from $1.15 to $1.45. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.31.

The enterprise said it expects earnings in the vary of $2.45 billion to $2.85 billion for the fiscal 3rd quarter. Analysts surveyed by Zacks experienced anticipated earnings of $2.67 billion.

Seagate shares have risen a bit additional than 1% due to the fact the starting of the yr, although the Regular & Poor’s 500 index has climbed around 3%. In the closing minutes of buying and selling on Thursday, shares strike $62.94, an improve of 3% in the final 12 months.

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