Seagate Technology (STX) Tops Q2 EPS by 1c

Seagate Technology (NASDAQ: STX) reported Q2 EPS of $1.35, $0.01 better than the analyst estimate of $1.34. Revenue for the quarter came in at $3 billion versus the consensus estimate of $3.73 billion.

During the second quarter, the Company generated approximately $1.4 billion in operating cash flow, paid cash dividends of $177 million and repurchased approximately 0.3 million ordinary shares for $18 million. There were 329 million ordinary shares issued and outstanding as of the end of the quarter. Cash, cash equivalents, restricted cash, and short-term investments totaled approximately $3.3 billion at the end of the quarter.

“Seagate’s second fiscal quarter performance is the result of consistent execution and our solid competitive positioning in the storage technology marketplace,” said Steve Luczo, Seagate’s chairman and chief executive officer. “In addition, our cash flow generation remains strong as we continue to effectively balance investing in our business with returning capital to shareholders.”

For earnings history and earnings-related data on Seagate Technology (STX) click here.

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