Seagate Technology (STX) Tops Q1 EPS by 11c

Seagate Technology (NASDAQ: STX) reported Q1 EPS of $0.96, $0.11 better than the analyst estimate of $0.85. Revenue for the quarter came in at $2.6 billion versus the consensus estimate of $2.52 billion.

“The results of our performance this quarter reflect solid execution and market demand for our storage product portfolio,” said Dave Mosley, Seagate’s chief executive officer. “Seagate delivered record levels of exabyte shipments and generated sequential growth in revenue and profit. As the demand for storage continues to benefit from the proliferation of data, Seagate is in a strong position to grow its businesses, improve profitability and continue with its shareholder-return objectives.”

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

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