Seagate Technology (STX) Tops Q3 EPS by 2c

Seagate Technology (NASDAQ: STX) reported Q3 EPS of $1.08, $0.02 better than the analyst estimate of $1.06. Revenue for the quarter came in at $3.3 billion versus the consensus estimate of $3.43 billion.

“In light of dynamic market conditions this quarter we are quite satisfied with our operational performance and ability to return value to shareholders,” said Steve Luczo, Seagate’s chairman and chief executive officer. “Near-term macro uncertainty is affecting certain areas of our addressable market however we remain optimistic that market demand for exabytes of storage will continue to increase over the long-term. Looking ahead, we are focused on aligning our storage technology portfolio effectively to capitalize on market growth opportunities, demonstrating operating profitability and returning value to shareholders.”

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

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